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Find the amount and the compound interest on Rs 9600 for 2 years at 5% per annum compounded annually. |
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Answer» Principal (P) = ₹9600Rate (R) = 5%TIME (n) = 2 yearsAmount (A) = P (1 + R/100)ⁿ=> A = 9600 (1 + 5/100)²=> A = 9600 (21/20)²=> A = ₹10584Compound INTEREST = A-P = ₹10584 - ₹9600 = ₹984 |
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