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  • Find the amount to be paid. At the end of 2 years on Rs. 2,400 at 5% per annum compounded annually.

Find the amount to be paid

1.     At the end of 2 years on Rs. 2,400 at 5% per annum compounded annually. 

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\\A_{n}=P_{1}(1+\frac{R}{100})^{n}\\ P_{1}=Rs\ 2400\\ n=2\\ R=5\\ A_{2}=2400\times (1+\frac{5}{100})^2\\ A_{2}=Rs\ 2646\\

The amount to be paid at the end of 2 years is Rs 2646

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