Question

Find the compound interest on rs.6400 for 2 years, compounded annually at 7½% per annum

Answer 1

Answer:

7860

Step by step explanation

PA = 6400

I = 7.5%

For 2 years

$2 \times \frac{7.5}{100} \times 6400 \\ \\ = 960$

Total interest =960

Total amount to be repaid

7860

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Answer 2

Answer:

7860

Step by step explanation

PA = 6400

I = 7.5%

For 2 years

$\begin{lgathered}2 \times \frac{7.5}{100} \times 6400 \\ \\ = 960\end{lgathered}$

Total interest =960

Total amount to be repaid

7860