Rupees 6000for 2years 9%per annum compounded annually – InterviewSolution

1.

Rupees 6000for 2years 9%per annum compounded annually

Answer»

<P>Principal = 6000

Time = 2yrs

Rate = 9% p.a

Amount = P(1+r/100)^n = 6000(1 + 9/100)²

= 6000(109/100)² = 6000 * 109/100 * 109/100

= 7128.6

Compound INTEREST = A - P = 7128.6 - 6000

= 1128.6

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