Question

Calculate the compound Interest
16,000 for 2 years al 5% per
annum​

Answer 1

Answer:

1,640

Step-by-step explanation:

Amount= P(1+r/100)^n

=16,000 × (100+5/100)²

=16,000 × 105/100 × 105/100

=17,640

Amount= Principal+CI

=>CI = 17,640-16,000

=1,640

Answer 2

Answer:

1640

Step-by-step explanation

CI(easiest formula)=PTR/100

P=16000,R=5%,T=2YRS

=PTR/100

=16000*1*5/100  {in compund interest we take the years one by one}

=800..so the amount  value 1 =16000+800  = 16800

so the principal 2=16800

=ptr/100=16800*1*5/100 =840

so the interests together will give the answer for compound interest

=800+840 m= 1640

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