Question

find the compound interest when the principal is 1000,time =2 years ,rate= 4%​

Answer 1

Answer:

Given,

Principal (P)=1000

time(T)=2yrs

rate(R)=4%

We have,

Amount= P(1+R/100)²

=1000(1+4/100)²

=1000(1+1/25)²

=1000(26/25)²

=1000*676/625

=1081.60

CI= Amount - principal

=rs.(1081.60-1000)

=rs.81.60