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

1 thought on “what is the compound intupst on ps : 48,000 for<br />2 years at 20% P.O if interest is compounded<br />annually​”

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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