Question

Find the amount and compound interest if Rs. $1250$ is invested for $4$ years at $5\%$ compound interest.

Answer 1

$A=P{(1+\frac{R}{100})}^n$

$=1250{(1+\frac{5}{100})}^4$

$=1250{\left(1.05\right)}^4$

$=1519.383$

$\therefore$ $CI=A-P$

$=1519.383-1250$

$=269.383$