give the principal rupees 20000 rate of interest 8% HPL component annually find the interest of second year and amount of period is 2 years
give the principal rupees 20000 rate of interest 8% HPL component annually find the interest of second year and amount of period is 2 years
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Answer:
P = 20000
R = 8%
N = 2 years
A = P(1+R/100)^N
= 20000(1+8/100)^2
= 20000(1+2/25)^2
= 20000(27/25)^2
= 20000(729/625)
= 20000×1.1664
= 23,328
ANS = 23,328