Question

compound interest on rs 40000 for 2 years at 8% per annum compound annually
​

Answer 1

Answer:

As per given question,

Amount for the first year:

A=P(1+

100

R

)

n

=40000(1+8/100)

1

=40000×108/100=Rs. 43200

Now, amount for the second year:

A=P(1+

100

R

)

n

=43200(1+8/100)

1

=43200×108/100=Rs. 46656

Compound interest =Amount−Principle

Rs. 46656−Rs. 43200=Rs. 3456

Step-by-step explanation:

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