how can we find compound interest
Answers
Answered by
3
Answer:
CI = P [ {1+r/100}^n -1 ]
Step-by-step explanation:
A = P (1/r +100)^n
CI = A - P
= P (1/r +100)^n - P
= P [ {1+r/100}^n -1 ]
Abbreviations :
CI - compound interest
A - amount
n - time
r - rate of interest
P - principal amount
LunaticBoy:
nice explanation..
thanks :)
welcome..
Answered by
2
compound interest = P (1+R/100)^n - P
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