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प्रश्न
Compound interest is the interest calculated on the previous year’s amount.
पर्याय
True
False
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उत्तर
This statement is True.
Explanation:
Compound interest, CI = A – P
Where, `A = P[1 + R/100]^n`
Here, P = Principal on previous year’s amount and A = Present year’s amount R = Rate of interest and n = Time
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संबंधित प्रश्न
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A certain sum amounts to Rs. 5,292 in two years and Rs. 5,556.60 in three years, interest being compounded annually. Find : the rate of interest.
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Calculate the compound interest on Rs. 5,000 in 2 years; if the rates of interest for successive years be 10% and 12% respectively.
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