5000 for 2(7) Find the amount and the compound interest onyears at 6%

1.	5000 for 2(7) Find the amount and the compound interest onyears at 6% pea annum interest payable yearly
Answer» 1250 is the answer of this sum Given,P = 5000, n = 2 years, R = 6% Let amount =A, compound interest = CI Then,A = P(1 + R/100)^nA = 5000(1 + 6/100)^2A = 5000(1.06)^2A = 5000*1.1236A = 5618 Therefore,Amount = Rs 5618CI = 5618 - 5000 = Rs 618

5000 for 2(7) Find the amount and the compound interest onyears at 6% pea annum interest payable yearly

Answer»

1250 is the answer of this sum

Given,P = 5000, n = 2 years, R = 6%

Let amount =A, compound interest = CI

Then,A = P(1 + R/100)^nA = 5000(1 + 6/100)^2A = 5000(1.06)^2A = 5000*1.1236A = 5618

Therefore,Amount = Rs 5618CI = 5618 - 5000 = Rs 618