Question

What is the compound interest on rs 48000 for 2 years at 20% p.A if interest is compounded annually?

Answer 1

Explanation:

°◉◈✿｡ $\huge\sf{[ Hєℓℓσ ]}$ ｡✿◈◉°added each time to form a new principal is called the conversion period. When the interest is compounded half yearly, there are 2 conversion period in a year each after 6 months. In such situations, the half yearly rate will be half of the annual rate.

Answer 2

Answer:

21,120

Explanation:

To find C.I first you have to find Amount

Formula for compound interest is C.I = Amount - Principal

We don't know the amount value. so, first we have to find amount .

Amount = P(1 + R/100)ⁿ  

             = 48000 ( 1 + 20/100)²

             = 48000 ( 12/10 )²    

             = 48000 ( 144/100)

             = 69,120

C.I = Amount - Principal

    = 69,120 - 48000

    = 21,120