Question

Write down the formula for compound interest after n years. [1 MARK]

Answer 1

Answer: 1 Mark

$A=P\times {(1+\frac{R}{100})}^n$

Compound interest = A - P

Where,

A = Amount after n years

R = Rate of interest

P = Principal

n = Number of years.

OR

$C.I=P\times [{(1+\frac{R}{100})}^n-1]$