Question

Find compound interest on
16,000 at 10% for 2 years.​

Answer 1

P = 16000

R = 10%

n = 2 years

1st we have to solve Amount.

A = P(1 + r/100)^n

=> 16000(1 + 10/100)^2

=> 16000(11/10)^2

=> 19360

Now,

Compound Interest = A - P

=> 19360 - 16000

=> 3360

#BeBrainly

Answer 2

Answer:

3360 rs

Step-by-step explanation:

1st year interest = 16000*10%/100 =1600

16000+1600=17600

2nd Yr compound interest = 17600*10%/100

=1760

so total compound interest =1600+1760=3360

answer