Question

What is the formula for compound interest????
Also give one example​

Answer 1

Answer:

first interest + last interest ( on something you want to find compound interest ).

Step-by-step explanation:

for example if someone lend $50 with rate 10% for 2 years then it's compound interest will be

first we will find instest of 1st year then second by (principal×rate×time/100 ) I will show you how-

1 year

50×10×1/100 = 5$

New principal= 50+5 = 55$

2 year

55×10×1/100 = 5.5$

Compound interest will be 1st year interest+ second year interest

5.5+5.0= 10.5

and amount will be

55+5.5 =60.5

.. hope you get it..

Answer 2

Answer:

C.I=A-P

A=Amount

P=Principal