the interest on a sum of Rs 25000 for 6 years at the interest rate 8 %
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Is interest compound or simple
If simple - 25000 + ( 8% ×7 ) = 25000+( 2000×7 )
25000+14000=39000
Compound - 25000+ 8% = 27000
2nd year- 27000+ 8% = 29160
3rd - 29160+ 8% = 31492.8
4th- 31492.8+8% = 34012.224
5th - 34012.224+8% = 36733.20192
6th - 36733.20192+8% = 39761.0000
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