Question

The compound interest on Rs. 5000 at 4% p.a. for 2 years

Answer 1

The Answer is Rs.408

step by step solution:

Given, P=5000

R=4%

T=2 years

Amount A=P ( 1+ R/100 )^T

A=5000(1+ 4/100)^2

5000 (104/100)^2

= Rs.5408

Compound interest =A−P

=5408−5000=Rs.408

​