Question

2. Given that a principal amounts to 10080 at 10% p.a
simple interest after two years what is the compound
interest for two years on this principal at the same
rate?
(A) 10164
(B) 1764
(C) 1640
(D) 33764​

Answer 1

Answer:

(C) 1640

Step-by-step explanation:

hope it's answer is right

Answer 2

Given, Amount = 10080

Amount = Principal + Simple Interest

10080 = P + Pnr/100

10080 x 100 = 100 p + P x 2 x 10

10080 x 100 = 120 P

P = 8400

CI = P(1+r/100)^n - P

Amount after 2 years = 840 x 1.21

Total Amount to pay = 10164

So, Interest is 10164-8400

CI = 1764