Answer:

Suppose you intend to invest Rs 1,00,000 for 10 years at an interest rate of 10 per cent and the compounding is annual. If you were to stretch the period by another 10 years, which makes it a total of 20 years, the return would be Rs 6,72,749.99.

Answer:

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Step-by-step explanation:

Compound interest = total amount of principal and interest in future (or future value) less principal amount at present (or present value)

= [P (1 + i)ⁿ] – P

⇒ P [(1 + i)ⁿ – 1]

Where:

P = principal

i = nominal annual interest rate in percentage terms

n = number of compounding periods

compound interest = 155,000 [(1 + 0.04)² – 1]

    ⇒ 155,000 [(1.04)² – 1]

    ⇒ 155,000 [(1.0816 – 1]

    ⇒ 155,000 [0.0816]

    ⇒ 12,648

∴ Compound interest is Rs12,648

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