Question

$Rs.164$ will compound to what with compound interest at $5$% per annum for $2$ years compounded annually.

Answer 1

Given that,

Rate $=5$%

Times $=2$ years

We know that,

$C.I=p{\left(1+\frac{r}{100}\right)}^t$

$=164{\left(1+\frac{5}{100}\right)}^2$

$=164\times \frac{21}{20}\times \frac{21}{20}\times \frac{21}{20}$

$=\frac{1518804}{8000}$

$=189.8508$

Thus,

We get $189.8508$