Browse by Stream
QnA
Home
QnA
Go To Your Study Dashboard

Get Answers to all your Questions

header-bg qa
  • Home
  • School
  • Calculate the compound interest on the principal amount of Rs 10000 at a 4.5 % interest rate for 2 years compounded yearly?

Calculate the compound interest on the principal amount of Rs 10000 at a 4.5 % interest rate for 2 years compounded yearly?

Answers (1)

Given,

Principal,P =Rs.10000, Rate, R = 4.5 % per annum compounded for 2 year.

Therefore, the required amount = 10000(1+\frac{4.5}{100})^{2} = Rs. 10920.25

Compound Interest = Total Amount - Principal = Rs. (10920.25 - 10000) = Rs. 920.25

Posted by

Ravindra Pindel

View full answer

Similar Questions

Latest Question