1.

calculate the amount and the compound interest on ₹ 10000 compounded annually for 2 1/2 years at 4% per annum.

Answer»


SOLUTION !

First,

we FIND the amount after 2 years

A = P( 1 + r/100)N

= ₹ 10000 ( 1 + 4/100)²

= 10000 × (25/25)²

= 10000 × 26/25 × 26/25

= 10816


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