Question

Find the compound interest on ₹ 3200 at 2.5 % p.a for 2 years, compounded annually.​

Answer 1

Answer:

Principal (P) = ₹ 3200 r = 2.5% p.a n = 2 years comp, annually ∴ Amount (A) = (1 + r/100)n = (1 + 2.5/100)2 = 3200 x (1.025)2 = 3362 Compound interest (Cl) = Amount – Principal = 3362 – 3200 = ₹ 162Read more on Sarthaks.com - https://www.sarthaks.com/990457/find-the-compound-interest-on-3200-at-2-5-p-a-for-2-years-compounded-annually