Find the compound interest for the principal of Rs. 2000 and the rate of interest

5 p.c.p.a. for the period of 2 years.

Question

Find the compound interest for the principal of Rs. 2000 and the rate of interest

5 p.c.p.a. for the period of 2 years.​

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Caroline 1 year 2021-07-17T16:14:23+00:00 2 Answers 0 views 0

Answers ( )

    0
    2021-07-17T16:15:58+00:00

    Answer:

    your answer is in image

    Step-by-step explanation:

    hope it helps

    0
    2021-07-17T16:16:03+00:00

    For the first year, P=Rs.2000,R=5%

    so, I = 100

    P×R×T = 100

    Rs.2100×5×1

    =Rs.105

    The amount after the second year =2100+105

    =Rs.2205

    Final amount =Rs.2205

    Hence,

    Compound Interest = final amount – original amount

    =Rs.2205−Rs.2000=Rs.205

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