What is the compound interest (in ₹) on ₹1,900 at 5% per annum for 2 years, compounded annually?
What is the compound interest (in ₹) on ₹1,900 at 5% per annum for 2 years, compounded annually?
₹1,900 पर 5% प्रति वर्ष की दर से 2 वर्षों के लिए चक्रवृद्धि ब्याज (₹ में) क्या है, जो वार्षिक रूप से संयोजित होता है?
Detailed Solution & Logic
Correct Answer:
194.75
P = 1900,; r = 5% , t = 2 years
Amount A = P$ (1+\frac{r}{100})^t $
$ A = 1900\left(1+\frac{5}{100}\right)^2 $
$ = 1900(1.05)^2 $
$ = 1900 \times 1.1025 $
= 2094.75
Compound Interest = A - P
= 2094.75 - 1900 $
= 194.75
Answer = ₹194.75
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