the simple interest on a sum of money for 2 years at 8 %per annum is 2400 rupees . what will be the compound interest on that sum at the same rate and for the same period? please answer to this question
Answers
Answered by
5
hey mate
here is your answer
here is your answer
Attachments:
Answered by
3
Simple Interest = Principal * time (in years) * rate / 100
= 2400 * 2 * 8 / 100
= 24 * 2 * 8 / 1
= 384
Compund Interest = Principal + SI
= 2400 + 384
= 2784
Similar questions