Question

Find the compound interest on Rs 14000 in 2 years at 10 percent per annum

Answer 1

Answer:

Here no. of years(n) =2

Rate of interest(R) =10%

Principle amount (P)=14000

Amount adding compound interest =P(1+R/100)^n

=14000(1+10/100)^2

=14000(11/10)(11/10)

=140(11)(11)=140(121)=16940

Therefore, Principle amount with compound interest=16940 and thus compound interest =16940-14000=2940