Question
Download Solution PDFThere is 20% increase in an amount in 4 years at simple interest. What will be the compound interest on Rs. 44500 after 2 years at the same rate of interest.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Principal(P) = Rs. 44500
Time(T) = 2yrs.
Rate of interest (R) =
Formula used:
C.I. =
Where C.I. = Compound interest.
Calculation:
C.I =
∴ The answer is "4561.25".
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