Find compound interest :
Principal = ₹ 18000
Time = 2 years
Rate = 31/2
First find the first year then second year.
Answer with steps.
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Amount of first year=18000(1+31/100 ✖ 2)^1
18000(31/50)^1
18000 ✖ 31/50=11160
compound interest of first year =18000 -11160
=6840
amount of 2nd year=18000 (1+31/100 ✖ 2)^2
18000 (31 /50) ^2
18000 ✖ 31 /50 ✖ 31 /50 =34596/5=6919.20
Ci=18000 -6919.20 =11080.8
hope it helps
18000(31/50)^1
18000 ✖ 31/50=11160
compound interest of first year =18000 -11160
=6840
amount of 2nd year=18000 (1+31/100 ✖ 2)^2
18000 (31 /50) ^2
18000 ✖ 31 /50 ✖ 31 /50 =34596/5=6919.20
Ci=18000 -6919.20 =11080.8
hope it helps
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