Question

Find the compound interest on Rs.1600 at \(\Large{7\frac{1}{4}}\)% p.a. for two years.

@ganeshie8 plz help :)

Answer 1

@amistre64 plz help :)

Answer 2

what does pa mean?

Answer 3

compound interest tends to have "per year" data attributed with it; such as, compounded quarterly and such

Answer 4

per annum sir :)

Answer 5

pa = per annum or per annual

Answer 6

so once a year

then use the formula:

\[A = P(1+.\%)^t\]

Answer 7

.%=rate ??

Answer 8

yes, and i see that its asking for the interest. and not the final amount?

Answer 9

so ignore the 1+ part

Answer 10

ok

Answer 11

\[1600(\frac{29}{4})^2\]