CA Foundation doubt
What ia the difference between the simple interest and compound interest on a sum of 8000 for 2.4 years at the rate of 10% when the interest is compounded annually?
Asked by Lunagariya28 Jul 20234794 views
3 answers
Sahana · 20 Aug 2023
A=p(1+R)t =8000(1+10%)2.4 = 21120. Compound intrest =Amount - principal. = 21120 - 8000 =13120 this is the final answer
Sahana · 20 Aug 2023
In compund intrest we get interest on the intrest earned for previous year also
Naveen · 7 Aug 2023
Hii
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