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ICSE Class 9 Answered

archana invests rupees 5,600 at 14% p.a. compound interest for 2 years.calculate: i.)the interest for the 2nd year.correct to the nearest rupees  
Asked by sheetalvjain80 | 23 Sep, 2018, 04:12: PM
answered-by-expert Expert Answer
According to the question,
P = Rs. 5600, N = 2 years, R = 14% p.a. 
A = begin mathsize 16px style straight P open parentheses 1 plus straight R over 100 close parentheses to the power of straight N equals 5600 open parentheses 1 plus 14 over 100 close parentheses squared end style
 
A = Rs. 7277.76
Interest = A - P = 7277.76 - 5600 = Rs. 1677.76 ≈ Rs. 1678
Answered by Sneha shidid | 25 Sep, 2018, 05:12: PM

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