Question

Find the compound interest if ₹ 40,000 are invested for 2 years at the rate of 8 p.c.p.a.
pls tell ​

Answer 1

Answer:

As per given question,

Amount for the first year:

A=P(1+

100

R

)

n

=40000(1+8/100)

1

=40000×108/100=Rs. 43200

Now, amount for the second year:

A=P(1+

100

R

)

n

=43200(1+8/100)

1

=43200×108/100=Rs. 46656

Compound interest =Amount−Principle

Rs. 46656−Rs. 43200=Rs. 3456

Answer 2

Answer:

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

=40000(1+8/100)²

=40000(108/100×108/100)

=4×108×108

=46656

C.I=A-P

=46656-40000

=6655,is your answer