Question

a man borrowed rupees 20000 for 2 years at 8% per your compound interest calculate
1) the interest of the first year
2), the interest of the second year
3)the final amount of the end of the second year
4 the compound interest of 2 years
Please with explanation​

Answer 1

Answer:

1. 1st year interest amount is 1600

2. 2nd year interest amount is 1472

3. final amount is 16928

4.the compounded interest is 3072

Step-by-step explanation:

Total Amount Received = 20000 (2 years)

At 8% interest of compounded

Amount

Amt. received 20000

1st year int. 1600

18400

2nd year int. 1472

Total Amt. 16928