Question

Find CI on Rs 26400 for 2 years at 15% per annum compounded annually .​

Answer 1

Answer:

Here is your answer mate

Step-by-step explanation:

Principal : 26400

Rate : 15 %

Time : 2 years

For First year :-

Simple Interest : P × R × T / 100

: 26400 × 15 × 1 / 100 = 3960

Amount : Principal + S I

: 26400 + 3960 = 30360

For 2nd Year

The amount of first year is considered as the principal of 2nd

Simple Interest : P × R × T / 100

: 30360 × 15 × 1 / 100 = 4554

Amount : Principal + S I

: 30360 + 4554

: 34914

Now , Compound Interest :

Amount - Principal

: 34914 - 26400 = 8514

With 2nd Formula

Principal : 26400

Rate : 15 %

Time : 2 years

Amount : P { 1 + Rate / 100 } ^ Time

: 26400 { 1 + 15 / 100}²

: 26400 { 115/100}²

: 26400 { 23/20 }²

: 26400 × 23/20 × 23/20

: 34914

Compound Interest :

Amount - Principal

: 34914 - 26400 = 8514

You can either use 1st formula or 2nd formula.......

Hope helpful for you......