simple interest and certain sum of money 2 years at 12% per annum is rupees 1920 what will be the compound interest on that sum at the same rate and for the same period
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Let x be the sum
the final sum = initial sum × interest rate × time
1920 = x*1.12*2
using above equation calculate x
then the final sum after coumpond interest will be:
x*1.12^2
the final sum = initial sum × interest rate × time
1920 = x*1.12*2
using above equation calculate x
then the final sum after coumpond interest will be:
x*1.12^2
rakathekhauff:
The simple interest equation will be 1920 = x+ .12*2*x
For coumpund interest it will be x*(1+.12^2)
sorry.. compund interest will be x*1.12^2
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