Question

find the compound interest on 6500 for two years at 9% per annum. ​

Answer 1

let's solve it without using the formula.....

in the first year

interest=6500×9/100

=594

so, amount,in one year=6500+594

=7094

since there is compound interest ,so,the next 9percent will be on the amount 7094

interest=7094×9/100

=70.95×9

=635.85

so,total compound interest=compound interest in first year+compound interest in second year

=594+635.85

=1229.85

hope it helps you sis☺️