Compound Interest-III ( Finding Amount)
Concept
When we borrow a certain sum of money or deposit it in a bank for a certain time, we return the sum borrowed with some extra money after certain interval of time. Similarly, the bank will pay the initial deposited amount with some extra money to us after the completion of time. This extra sum of money paid by the borrower to the money lender and the bank to the depositor is known as interest.
The interest charged may be of two types.
i. Simple interest ii) Compound interest
Objective:
Learner ले CA, T र R को प्रयोग गरेर P निकाल्न सक्ने छन.
User Guideline
Dear learner, use CA=P(1+r/100)^T, find P and put answer in the input
box.Repeat this activity at least 5 times and do the MCQ given below.
Multiple Choice
What sum lent at compound interest will amount to Rs. 34347 in 2 years at the rate of 7 % p.a. compounded interest payable annually?