Question

6400rs for 2 years at 6% per annum compounded annually​

Answer 1

1st year

I = P×R×T/100

I = ₹6400×6×1/100

I = ₹384

A = ₹6400+₹384 = ₹6784

Amount of 1st year = principal of 2nd year.

2nd year

I = ₹6784×6×1/100

I = ₹407.04

A = ₹6784+₹407.04 = ₹7191.04

CI = ₹7191.04 - ₹6400 = ₹791.04