compound interest on a certain sum at certain rate of interest for one year will be?
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Answered by
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It will be same as simple interest for one year provided that the interest is compounded yearly.
ananya1tandon:
thanks thts the ans i neede
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Answered by
0
We know the formula for amount in compound interest for one year.
Amount=P[1+(R/100)]
We know that CI=Amount-P
CI=Amount-P
CI=P[1+(R/100)]-P
CI=P+(PR/100)-P=PR/100
Hope you find this answer helpful.
Amount=P[1+(R/100)]
We know that CI=Amount-P
CI=Amount-P
CI=P[1+(R/100)]-P
CI=P+(PR/100)-P=PR/100
Hope you find this answer helpful.
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