Question

Rs 40000 for 2 years at the interest rate of 8% per annum find the compound interest​

Answer 1

Given :-

Principal (P) = 40000

Rate (R) = 8%

Time (T) = 2 years

To Find :-

Compound interest (CI)

Solution :-

At first we need o find amount

Amount = P × (1 + r/100)ⁿ

Amount = 40000 (1 + 8/100)²

Amount = 40000 (100 + 8/100)²

Amount = 40000 (108/100)²

Amount = 40000 × 108/100 × 108/100

Amount = 4 × 108 × 108

Amount = 46656

Now,

CI = Amount - Principal

CI = 46656 - 40000

CI = 6656

Answer 2

Answer:

40000x8÷100= 3200

40000+3200=43200

43200×8÷100=3456

43200+3456=46656

Ans - 46656 rupees