Question

Find the value and the compound interest if £4000 is invested for 2 years at 36% p.a.

Final value = £

Interest = £

Answer 1

• Principal=P=4000
• Time=T=2years
• Rate of interest =R=36

Interest be I

`\\ \sf\longmapsto I=(PRT)/(100)`

`\\ \sf\longmapsto I=(4000(2)(36))/(100)`

`\\ \sf\longmapsto I=(288000)/(100)`

`\\ \sf\longmapsto I=2880`

Now

Final value=4000+2880=6880