Question

find the compound interest on rs 1000 at the rate of 12% for 2 years

Answer 1

Answer:

Step-by-step explanation:

A = Total amount , P = Principal, R = Rate, n = Time

$A = P (1 +R )^{n} \\ A = 1000 ( 1 + \frac{12}{100})^2\\ A= 1000 ( 1.12)^2\\ A = 1000 (1.2544)\\ A= 1254.40$

If the total amount is Rs 1254.40, the compound interest is;

    Rs 1254.40 - Rs 1000

           = Rs 254.40

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