principal 10000 rate 12 time 2years find its compound interest
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principal=Rs10000
rate of interest=12%
no. of years=2
Amount=principal (1+rate/100) ^no. of years
=10000×112/100×112/100
=112×112
=12544
compound interest=amount-principal
=12544-10000
=2544
rate of interest=12%
no. of years=2
Amount=principal (1+rate/100) ^no. of years
=10000×112/100×112/100
=112×112
=12544
compound interest=amount-principal
=12544-10000
=2544
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