Question

A sum of $Rs.9600$ is invested for $3$ years at $10\%$ per annum at compound interest, then find the compound interest earned in 2 years.

Answer 1

Given : $P=Rs.9600$

$R=10$

$T=2$

$C.I=P{(1+\frac{R}{100})}^T-P$

$C.I=9600{(1+\frac{10}{100})}^2-9600$

$C.I=Rs.2016$

Compound Interest paid after $2$ years is, $Rs.2016$.