A man deposits TK. 600 in a Bank at 10% interest rate compounded annually . At the end of the second year, what will be the total amount including interest ?
Created: 6 years ago |
best des
Principal, p = Tk. 600
Rate of interest, r = 10%
Time, n = 2 years
Principal with interest, c =?
We know that,
c = p(1+r)n
= 600(1+10%)2
= 726
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