Question

A = P [1 + (R / 100)^n Why this formula is applied​ Give reason

Answer 1

Answer:

Compound Interest is the interest calculated on the cumulative amount, rather than being calculated on the principal amount only. Amount, A = P [1 + (R / 100)]n, where P is the principal, R is the rate of interest per unit time period and n is the time period.

Answer 2

Answer:

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