Question

Find the compound interest (payable yearly) and amount on 240 for 2 years at 4% per annum.​

Answer 1

Step-by-step explanation:

principal, P=₹240

time, n=2 years

rate of interest, R=4%p.a.

Amount, A=P(1+R/100)^n

=240(1+4/100)²

=240(104/100)²

=240(26/25)^²

=240(676/625)

=₹259.584

Compound interest=A-P=259.584-240=₹19.584

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Answer 2

Answer:

compound interest - 19.58 and amount is 259.58