Question

Find the interest on #40000 for 2years at 2% per annum compound interest

Answer 1

Step-by-step explanation:

p=40000,n=2,r=2

A=p(1+r/100)^n

A=40000(1+2/100)^2

A=40000(102/100)^2

A=40000*102/100*102/100

A=4*102*102

A=41616

I=A-P

I=41616-40000

I=1616

Answer 2

Answer:

this is your answer

Step-by-step explanation:

Amount=p -sl

=40000 - 1600

=38400