find the find the amount and the compound interest on 2500 for 2 years at 10% per annum
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It's so simple.
Compoud interest=
Amount=principal(1+rate/100),to the power of n,that is time period
So,A=2500(1+10/100)²
So it's 2500(1+1/10)²
2500(11/10)²
2500*11/10*11/10=3025,So the amount is 3025
CP=3025-2500=525
Compoud interest=
Amount=principal(1+rate/100),to the power of n,that is time period
So,A=2500(1+10/100)²
So it's 2500(1+1/10)²
2500(11/10)²
2500*11/10*11/10=3025,So the amount is 3025
CP=3025-2500=525
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