Question

Find the compound interest on 11200 at 35/2 per annnum for two years

Answer 1

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