Question
A sum of ₹20,000 is invested at a compound interest
rate of 5% per annum for 4 years. What will be the total amount after 4 years, and what is the total compound interest earned?Solution
Amount = Principal * (1 + Rate)^Time Amount = 20,000 * (1 + 0.05)^4 = 20,000 * (1.21550625) = ₹24,310.13 Compound Interest = Amount - Principal = 24,310.13 - 20,000 = ₹4,310.13
More Simple and compound interest Questions
- What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)
22.22 × 8.99 + 142.15 = ?
(10.013 – 12.04) = ? + 7.98% of 4999.98
960.11 ÷ 23.98 × 5.14 – 177.9 = √?
- What approximate value will come in place of the question mark (?) in the following question? (Note: You are not expected to calculate the exact value.)
90.004% of 9500 + 362 = ?
(4096)1/3 × 10.11 × 11.97 ÷ 24.32 = ? + 15.022
20.22% of (61.9 × 5.01) + 69.97 =?
The base of a prism is an equilateral triangle with a perimeter of 36 cm. If the height of the prism is 12 cm, calculate the volu...
(1560.23 ÷ 25.98) + (768.32 ÷ 23.9) + 1814.11 = ?
