Question

Find the amount and compound interest on rs 16000 for 4 years at 8 %per annum,compounded annually

Answer 1

ok here is your answer but i am using the formula ok:
given,
p=£ 16000
r= 8%p.a.
t=4 years

A=p(1+r/100)t
= 16000(1+8/100)4
= 16000*27/50*27/50*27/50*27/50.
= 8503056/6250
= £ 1360.48896
:. compound interest= A-p
=£ 1360.48896-£ 16000
= £ 14639.51104