Question

the simple interest for certain principal in 2 years at 4% per annum is 80 rupees what will be the compound interest compounded annually for the same principal at 4% per annum for 2 years​

Answer 1

Answer:

Rs. 50.40

Step-by-step explanation:

SI = Rs.80

R = 4 %

T = 2 yr

we know that,

$simple \: interest \: = \frac{prt}{100}$

therefore,

$p = \frac{80 \times 100}{4 \times 2}$

= Rs. 1000

So CI on same principle is,

$compound \: interest \: = \: p { ( 1 + \frac{r}{100} )}^n - p$

=1000 x (100+4/100)² - 1000

= 1050.40 - 1000

= Rs. 50.40