Find the amount and the compound interest on Rs. 4000 for 2 years at 16% per annum.
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Find the amount and the compound interest on Rs. 4000 for 2 years at 16% per annum.
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Amount = Rs. 4679.43, Compound Interest = Rs. 679.43
Step-by-step explanation:
Principal, P = Rs. 4000
Time, T = 1 year
Rate of Interest, R16 % p.a.
Now,
Amount, A = P(1+ R/400)^4t
A = 4000 (1+ 16/400 ) ^ 4
A = 4000 ( 1.04)^ 4
A = 4000 * 1.04 * 1.04 * 1.04 * 1.04
Amount = Rs. 4679.43 (approx.)
So,
Compound Interest, CI = A -P
CI = 4679.43 - 4000
CI = Rs. 679.43
Step-by-step explanation:
I=Rs.4000
T=2years
R=16percent
A=?
we know
p=I×100
400000
100+32
400000
132
3030.31
Now
A=P+I
A=3030.31+4000
7030.31