Question

the simple interest on a sum of money for 2 years at 8% per annum is rupees 2,400 what will be the compound interest on that is sum at the same rate and for the same period​

Answer 1

Hope it helps you best of luck

Answer 2

Solution:

$si = \frac{p \times r \times t}{100}$

2400=P ×8×2/100

2400=16P/100

240000=16P

P= 240000/16

P= ₹15000

A=P+SI

= 15000 +2400

=17400

CI=A-P

17400- 15000

= 2400