Question

What will be the compound interest on Rs. 4000 in two years when rate of interest is 5% per annum?

Answer 1

Answer:

Compound Interest = A – P = Rs 4410 – Rs 4000 = Rs 410

Step-by-step explanation:

Solution↴

Given details are,

• Principal (p) = Rs 4000
• Rate (r) = 5%
• Time = 2years

By using the formula,

A = P (1 + R/100) n

= 4000 (1 + 15/100)³

= 4000 (105/100)³

= Rs 4410

∴ Compound Interest = A – P = Rs 4410 – Rs 4000 = Rs 410

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Answer 2

Answer:

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