Question

a sum of of rupees 9600 is invested for 3 years at 10% per annum compound interest.
1)find the compound interest earned in the first two years?
2) find the compound interest at the end of 3 years.

Answer 1

The equation for Amount is:
$A = P (1 + R / 100)^T$ (When Interest is Compounded Yearly)

The equation for Compound Interest is:
$CI = A - P$

Therefore, 1) Rs. 2,010.00
                  2) Rs. 3,177.60