Question

Simran takes a loan of 40000 from a bank at 7% per annum for 2 years find the compound interest paid by her without using the formula​

Answer 1

Answer:

5796

Step-by-step explanation:

Equivalent rate

= 7+7+(7×7)/100 = 14.49%

C.i = 14.49% of 40000 = Rs 5796