Compute the amount and the compound interest by using the formulae whe – InterviewSolution

InterviewSolution

1.

Compute the amount and the compound interest by using the formulae when : Principal = Rs 5000, Rate = 10 paise per rupee per annum, Time = 2 years.

Answer»

Given, P = Rs 5000, rate = 10%, time = 2years

A = P (1 + R/100)ⁿ

= 5000 (1 + 10/100)²

= 5000 (110/100)²

= Rs 6050

Compound interest (CI) = A-P = Rs 6050 – 5000 = Rs 1050

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