Sudhakar on invested & 50000 in a nationalised bank for 2 year at rate of 9p.c.p.a at compound interest
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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  1. 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.

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