Question

If the simple.interest on a sum at 4% per annum for 2 years is rs.80 then the compound interest on the same sum for same period is

Answer 1

Given Simple Interest= SI = 80

Rate of Interest Per annum= R= i= 4%

Time = T= n = 2years

we know that
Simple Interest = PTR/100

80 = P*2*4/100

80×100/8 = P

1000 = P


We know that

Compound Interest
=P(1+i)^n - P

=1000(1+4%)^2 - 1000

=1000(1.0816) -1000
=1081.6 - 1000
=81.6 is the compound Interest

Answer 2

Explanation:

answer is ₹81.60.

by the formula is simple and compound interest you can find answer...