Question

Ram borrowed 40,000 from a moneylender. If the rate of interest is 7% per annum then find the
compound interest after two years.​

Answer 1

Answer:

COMPUND INTEREST AFTER 2 YEARS IS $45796

Step-by-step explanation:

P = RS.40000

R = 7% p.a

N = 2

TO FIND COMPUND INTEREST

IND COMPUND INTEREST C.I = P ( 1 + R / 100) n

IND COMPUND INTEREST C.I = P ( 1 + R / 100) n = 40000 X ( 1 + 7 / 100 ) sq.

IND COMPUND INTEREST C.I = P ( 1 + R / 100) n = 40000 X ( 1 + 7 / 100 ) sq. = 40000 X ( 107 / 100 × 107 / 100)

IND COMPUND INTEREST C.I = P ( 1 + R / 100) n = 40000 X ( 1 + 7 / 100 ) sq. = 40000 X ( 107 / 100 × 107 / 100) = $ 45796 .

IND COMPUND INTEREST C.I = P ( 1 + R / 100) n = 40000 X ( 1 + 7 / 100 ) sq. = 40000 X ( 107 / 100 × 107 / 100) = $ 45796 .INTEREST = 45796 - 40000

IND COMPUND INTEREST C.I = P ( 1 + R / 100) n = 40000 X ( 1 + 7 / 100 ) sq. = 40000 X ( 107 / 100 × 107 / 100) = $ 45796 .INTEREST = 45796 - 40000 = $5796.