Question

Find the compound interest if P=18000, Rate of interest
is 12% and time is 2 year.
​

Answer 1

Calculate the amount and compound interest on Rs 18,000 for 21/2 years at 10% per annum compounded annually. , R = 10% p.a. ∵ Interest is compounded annually.

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Answer 2

Answer:

4579.2

Step-by-step explanation:

P=18000 ,r = 12% ,n = 2 so,

amount A = P (1+r/100)^n = 18000 (1+12/100)^2

A = 18000(112/100)^2

A = 18000×112×112/(100×100) = 22579.2

CI = A-P = 22579.2 - 18000 = 4579.2