Question

Find the amount from the investment of $Rs.4500$ for two years at $5$% per month at interest ?

Answer 1

$r=5\%$ per month $,n=2\times 12=24$

$A=P+\left[\frac{P\times r\times t}{100}\right]$

$A=4500+\left[\frac{4500\times 5\times 24}{100}\right]$

$⟹A=Rs.9990$.