Question

2.If Amount =2205 Rs. Principal =2000Rs .What is the compound interest?​

Answer 1

Step-by-step explanation:

The formula for compound interest is A = P (1 + r/n) ^ nt

where,

A = the future value of the investment/loan, including interest

P = the principal investment amount (the initial deposit or loan amount)

r = the annual interest rate (decimal)

n = the number of times that interest is compounded per unit t

t = the time the money is invested or borrowed for.

A = 2205 , P = 2000

A = P(1+r/n)^nt

2205 = 2000 (1+r/n)^nt

2205 - 2000 = (1+r/n)^nt

205 = (1 + r/n)^nt