a sum of 16000, invested at simple interest amounts to 22400 in 4 years at a certain rate of interest. if the same sum of money is invested for 2 years at the same rate of interest, compounded p. a., find the compound interest earned.
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amount of money invested=16000
amount of money gain in 4 years by interest
=22400-16000=6400
amount of money gain in 2 years by interest
=6400÷2=3200
hope you like my answer.
cricket85:
sorry for my mistake
actually i couldn't understand what actually the question is.
sorry sorry sorry
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