Question

Principle is ₹40000. Rate of interest 8% p.a. compounded annually. Time is 2 years. Find compound interest​

Answer 1

Answer:

Hello friend.Hope you are fine in this lockdown.

Here is your answer

Principal is given 40000

The rate is 8% p a

The time is 2 years

The formula for compound interest is Amount= Principal (1+rate/100)^time

So amount= 40000(1+8/100)^2

= 40000× 27/25 × 27/25

64 × 27× 27

= ₹46656

So amount is this and since CI = Amount- Principal

CI = 46656-40000= ₹6656

Hope this will help you.

Thank you

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Answer 2

CI = ₹ 6656

Hope Helps You ✌️

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