Question

find the compound interest of the principal 10000 rate of interest is 24 % per annum time is 2 month and interest is payable monthly

Answer 1

interest for First month =( 10000x2x1)/100
=200
Amount at the end of first month= 10000+200= 10200.
now p= 10200.
so interest for second month = (10200x2x1)/100
= 204.
total amount= 10200+204
= Rs 10404.