Compound interest on rs 800 for 2 years at 5 percent
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Given
Principal amount (inclusive of Interest) =P=800
Duration/Time = n = 2 years
Rate of Interest Per annum= i = 5%
Required to find is A = compound Interest
we know That..
For compound Interest...
A=P(1+i)^n-P
substituting above information..
A = 800(1+5/100)^2 -800
A= 800(1+0.05)^2 - 800
A= 800(1.05)^2 - 800
A = 800(1.1025) - 800
A= 882-800
A= 82
so the compound Interest= 82
Principal amount (inclusive of Interest) =P=800
Duration/Time = n = 2 years
Rate of Interest Per annum= i = 5%
Required to find is A = compound Interest
we know That..
For compound Interest...
A=P(1+i)^n-P
substituting above information..
A = 800(1+5/100)^2 -800
A= 800(1+0.05)^2 - 800
A= 800(1.05)^2 - 800
A = 800(1.1025) - 800
A= 882-800
A= 82
so the compound Interest= 82
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