Question

Find C.I. and amount on Rs 40000 for 2 year at the interest rate of 8% per annum​

Answer 1

Answer:

Formula for Compound Interest(CI)=

P[(1+R/100)^T - 1]

【Where Principle is P , Rate is R , Time is T】

Using this formula , we get :

40000[(1+8/100)^2-1]

=40000[(108/100)^2-1]

=40000[(27/25)^2-1]

=40000[729/625-1]

=40000×104/625

=64×104

=₹6656

【I hope this would help You】