Question

calculate the compound intrest on rupees 16000 for 2 years at 8 percent p. a. compounded anually​

Answer 1

Step-by-step explanation:

$ci = p(1 + i) ^{n}$

$here \: \: p = 16000 \\ n = 2 \\ i = 0.08 \: \: ie \: 8 \div 100 \\ ci = 16000(1 + 0.08) \ \: ^{2}$

$ie \: \: \: 16000(1.08) \ \: ^{2}$

$16000 \times 1.1664 \\ = 18662.4 \\ p \ \: = 16000 \: \: ci = 2662.4$