Question

find the compound interest on 3600 for 2year at 10% per annum

Answer 1

Answer:

SI=P×R×T/100

SI =3600×2×10/100

SI=720

Answer 2

Answer:

Principal for the first year=Rs 3600

Interest for the first year=Rs (3600×10×1÷100)=rs 360

Amount at the end of first year=3600+360=3960

This becomes principal for the next year

principal for the second year=Rs 3960

Interest for the second year=3960×10×1÷100=396

Amount at the end of second year

=Rs (3960+396)=4356

cI=A-P=4356-3600=Rs 756