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

culate the amoun

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

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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.