Sudhakar on invested & 50000 in a nationalised bank for 2 year at rate of 9p.c.p.a at compound interest culate the amount and compound interest at the end of 2 year About the author Gianna
Step-by-step explanation: The amount will Ganesh receive from the bank at the end of 2 years is Rs.59405. Step-by-step explanation: Given : Ganesh invested Rs.50000 in a nationalized bank for 2 years at the rate of 9 p.c.p.a. at compound interest. To find : What amount will Ganesh receive from the bank at the end of 2 years? Solution : Applying compound interest formula, A=P(1+r)^tA=P(1+r) t Where, A is the amount P is the principal P=Rs.50000 r is the rate of interest r=9%=0.09 t is the time t=2 years. Substitute the value in the formula, A=50000(1+0.09)^2A=50000(1+0.09) 2 A=50000(1.09)^2A=50000(1.09) 2 A=50000\times 1.1881A=50000×1.1881 A=59405A=59405 Therefore, The amount will Ganesh receive from the bank at the end of 2 years is Rs.59405. Reply
Step-by-step explanation:
The amount will Ganesh receive from the bank at the end of 2 years is Rs.59405.
Step-by-step explanation:
Given : Ganesh invested Rs.50000 in a nationalized bank for 2 years at the rate of 9 p.c.p.a. at compound interest.
To find : What amount will Ganesh receive from the bank at the end of 2 years?
Solution :
Applying compound interest formula,
A=P(1+r)^tA=P(1+r)
t
Where, A is the amount
P is the principal P=Rs.50000
r is the rate of interest r=9%=0.09
t is the time t=2 years.
Substitute the value in the formula,
A=50000(1+0.09)^2A=50000(1+0.09)
2
A=50000(1.09)^2A=50000(1.09)
2
A=50000\times 1.1881A=50000×1.1881
A=59405A=59405
Therefore, The amount will Ganesh receive from the bank at the end of 2 years is Rs.59405.