Find the compound interest on 11200 at 35/2 per annnum for two years
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Step-by-step explanation:
first of all we need to find the ammount
The formula of ammount = p(1+R/100)^n
= 11200 ( 1 + 35/2*100)²
= 11200( 1 +35/200)²
= 11200( 1 + 7/40)²
= 11200( 47/40)²
= 11200 * 47/40 * 47/40
= 112* 47/4 * 47/4
= 7 * 47 * 47
= 15463
compond intrest = Ammount - principal
= 15463- 11200
= 4263
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