Question

without using the formula of compound interest find the compound interest and amount of the following:
Principal =10000,rate=%=5%p.a,time =2years​

Answer 1

Answer:

CI=1025 Amount=11025

Step-by-step explanation:

Principal =10000,rate=%=5%p.a,time =2 years​

1st year:

5% of 10000=500

2nd year:

amount will be 10000+500=10500

5% of 10500=525

total interest is 500+525=1025

Total amount is 10500+525=11025