Question

If the simple interest on a sum at 4percent per annum for 2years is rs80 ,then the compound interest on the same sum for the same period is?

Answer 1

We have a formula for finding amount in compound interest
P(1+R/100)^T
'T' is no. of years

Answer 2

take x as principle
SI = ( PNR / 100 )
80 =( x × 2 × 4 / 100)
80×100/4×2 = x
1000= x = principle


FIND CI
=1000[(1+4/100)^2]
=1000 × 26 / 25 × 26/25
=1081.6

CI = 1081.6-1000
= rs 81.6


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