Question

if the simple interest on a sum at 4% per annum for 2 years is rupees 80 then the compound interest on the same sum of the same period is​

Answer 1

Answer:

81.6 compound interest

Step-by-step explanation:

S.I = 80 , n = 2 , r = 4%

Find P & C.I on same sum

S.I = pnr/100

80 = P.2.4/100

P = 1,000

C.I = P[(1+r/100)^n- 1]

= 1,000[(1+4/100)^2-1]

= 1,000(0.0816)

= 81.6