Ten > Compound Interest

Asked by Basanta · 2 years ago

Rita is a student studying in class 10. Her mother deposited Rs.50,000 for 2 years in fixed deposit of a bank at compound interest compounded annually for her study expenses and the compound amount at the end of one year is Rs. 56,000.

1. For principal Rs. 'P', time T years and rate of interest R% per year, write the formula to find yearly compound amount 'CA'.
2. Find the annual rate of compound interest offered by the bank.
3. What will be the compound amount that Rita gets at the end of 2 years? Find it.