A sum of is invested at per annum compounded annually. What will be the amount after ?
- A
- B
- C
- D
Solution & Step-by-step Explanation
The formula for compound interest amount is:
Given:
* Principal () =
* Rate () =
* Time () =
Substitute the parameters into the formula:
The total amount accumulated after will be .
Given:
* Principal () =
* Rate () =
* Time () =
Substitute the parameters into the formula:
The total amount accumulated after will be .