1.

Find the amount and the compound intrest on 5000 for 2 yrs at 6% p.a intrest payable yearly.​

Answer»

Answer:

  • Amount = Rs. 5618
  • Compound Interest = 618

Step By Step Explanation:

Given:

  • Principal Amount = Rs. 5000
  • Time = 2 years
  • Rate = 6%

To Find:

  • Amount
  • Compound Interest.

Now, we know that

=> Amount = P[1 + (r/100)]ⁿ

=> Amount = 5000[1 + (6/100)]²

=> Amount = 5000[(100 + 6)/100]²

=> Amount = 5000[106/100]²

=> Amount = 5000[1.06]²

=> Amount = 5000 × 1.1236

=> Amount = Rs. 5618

Hence, Amount = Rs. 5618

Now, we will find Compound Interest,

=> CI = Amount - Principal Amount

=> CI = 5618 - 5000

=> CI = 618.


Discussion

No Comment Found

Related InterviewSolutions