Answered by Guest on 2019-04-08 10:15:08 | Votes 19 | #
Solution
Total amount under compound interest
= $12000 (1 + \frac{9}{100})^2$
= $12000 \times 1.09 \times 1.09$
= $14257.2$
$\therefore$ Compound Interest = 14257.2 - 12000
= Rs. 2,257.2
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Answered by Guest on 2019-04-29 09:22:48 | Votes 2 | #
Solution
Total amount under compound interest
= $12000 (1 + \frac{9}{100})^2$
= $12000 \times 1.09 \times 1.09$
= $14257.2$
$\therefore$ Compound Interest = 14257.2 - 12000
= Rs. 2,257.2
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15 Questions 15 Marks 12 Mins
Let P = Principal, R = rate % per annum, Time = n years.
When interest is compound annually,
Amount = P(1 + R/100)n
Given,
P = Rs.12000 and n = 2 years and R = 5%
Amount =
= 12000[1 + 5/100]2
= 12000[1 + 0.05]2
= 12000 × 1.05 × 1.05
= 13230
Compound interest = amount - P
Compound interest = 13230 - 12000 = 1230
∴ Compound Interest is Rs. 1230.Stay updated with the Quantitative Aptitude questions & answers with Testbook. Know more about Interest and ace the concept of Compound Interest.
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