Question

What is compound interest on an amount 10000 at 8% per annum for 2 years?

Answer 1

Given,

Principal(p) = 10000

Rate of interest (r) = 8%

No of years(n) = 2yrs

A=P(1 + r/100)^n

A=10000(1 + 8/100)^2

A=11664

CI =A - P

CI =11664 - 10000

CI =1664

Hope you will understand

Follow me

Answer 2

Answer:

refer attachment ☺☺.......