Question

A man invests $9600 at 10 % per annum compound interest for 3 years . calculate compound interest earned in 2 years

Answer 1

$ 2016 is the ans.
Hope it helps........

Answer 2

$\huge\boxed{\texttt{\fcolorbox{Red}{aqua}{Hey Mate!!!}}}$

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Here is your answer
P = $9600
R = 10%
T = 2 years

As we know that
A = P(1+R/100)^2
$= 9600(1 + \frac{10}{100} ) {}^{2} \\ = 9600 \times (1 + \frac{1}{10} ) {}^{2} \\ = 9600 \times ( \frac{11}{10} ) {}^{2} \\ = \frac{9600 \times 11 \times 11}{10 \times 10} \\ = 96 \times 121 \\ = 11616$

So Amount after two years is $ 11616

CI = A - P
= 11,616 - 9600
= 2016

SO COMPOUND INTEREST AFTER TWO YEARS IS $ 2,016

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