If is invested at per annum compounded annually, what will be the total amount after ?
- A
- B
- C
- D
Solution & Step-by-step Explanation
The formula for the total amount () under compound interest is:
Given:
* Principal () =
* Rate () =
* Time () =
Substitute the values into the formula:
Therefore, the amount after will be .
Given:
* Principal () =
* Rate () =
* Time () =
Substitute the values into the formula:
Therefore, the amount after will be .