Question

Find the compound interest if the amount of a certain principal after two years is ₹4036.80 at the rate of 16 p.c.p.a.

Answer 1

Given Principal Amount= P= ?

Rates of interest Per annum= i =16%

Time= n =2years

Compound amount= P(1+i)^n

4036.80 = P [ (1+16/100)^2

4036.80 = P [(1 + 0.16)^2

4036.80 =P (1.16)^2

4036.80 =P[1.3456]

4036.80/1.3456 =P

=3000 is the Principal amount..

Then Compounded interest = Compounded amount - Principal Amount

=4036.80 - 3000 =1036.80 is the Compound Interest.

Answer 2

$<b><u>Answer</b></u>$:

1036.8

$<b><u>Step-by-step explanation</b></u>$:

$<b>We have</b>$,

A = 4036.80, Time = 2 years, R = 16%.

∴ A = P(1 + r/100)ⁿ

⇒ 4036.80 = P(1 + 16/100)²

⇒ 4036.80 = P(116/100)²

⇒ 4036.80 = P(1.16)²

⇒ P = 3000.

$<b>Now, </b>$

C.I = A - P

    = 4036.80 - 3000

   = 1036.8

$<b>$Hope it helps!