Question

find the compound interest if of If the amount of certain principal after 2 years is 4036.80 at rate of 16 pcpa

Answer 1

Answer:

Compound interest is 1036.8

Step-by-step explanation:

Given that amount of certain principal after 2 years is 4036.80 at rate of 16%. We have to calculate the compound interest.

Using compound interest formula

$A=P(1+\frac{R}{100})^n$

⇒ $4036.8=P(1+\frac{16}{100})^2$

⇒ $4036.8=P\times 1.3456$

⇒ $P=3000$

As, C.I=A-P

⇒ C.I=4036.8-3000=1036.8

Hence, Compound interest is 1036.8