Find compound interest on Rs. 10000 at 10% p.a. for 4 years, if interest is compounded annually.
Rs. 8541
Rs. 7640
Rs. 4641
Rs.5641
Explanation:
Amount = Rs. 10000 x (1110)4(1110)4 = 14641.
Therefore, Compound interest = Rs. 14641 - Rs. 10000 = Rs. 4641
Amount = Rs. 10000 x (1110)4(1110)4 = 14641.
Therefore, Compound interest = Rs. 14641 - Rs. 10000 = Rs. 4641