Question

5. Find the compound interest if the amount of a certain principal after two years
is 34036.80 at the rate of 16 p.c.p.a.​

Answer 1

Answer:

Given Principal Amount= P= ?

Rates of interest Per annum= i =16%

Time= n =2years

Compound amount= P(1+i)^n

4036.80 = P [ (1+16/100)^2

4036.80 = P [(1 + 0.16)^2

4036.80 =P (1.16)^2

4036.80 =P[1.3456]

4036.80/1.3456 =P

=3000 is the Principal amount..

Then Compounded interest = Compounded amount - Principal Amount

=4036.80 - 3000 =1036.80 is the Compound Interest.