What sum will amount to 28090 in two years at 6% per annum compound interest?
Also find the compound interest.
Answers
Answered by
10
Step-by-step explanation:
28090*2*6/100 we get the compound interest
Answered by
48
Amount = 28090
Assuming the principal to be Rs P.
Rate = 6% p.a
Time = 2 years
- A = p(1+r/100)^n
28090 = p(1+6/100)^2
28090 = p*53/50*53/100
50*50*28090/53*53 = P
2500*28090/2809 = P
Rs 25000 = P
- now, C.I for one year
= 25000*6*1/100 = Rs 1500
amount = 26500 = principal for 2nd year
- C.I for the 2nd year
26500*6*1/100 = Rs 1590
total C.I = Rs 1500 + Rs 1590 = 3090
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