Question

what is the compound intupst on ps : 48,000 for
2 years at 20% P.O if interest is compounded
annually​

Answer 1

Answer:

Here P = RS.48000, n = 2 years

r = 20% ( compounded annually)= 20/100= .2

Total amount A = P(1+I)^n = 48000(1+.2)^2

= 48000×(1.2)^2 = 48000× 1.44=480×144=69120

So interest = 69120 - 48000= 21120

So compound interest = 21120

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