What is the compound interest on 600 compounded annually, @ 12% for 2 years?
P = 600, r = 12%, t = 2 Using Compound Interest Formula: I = P(1 + r)2 - P I = 600(1 + 12 100 )2 - 600 I = 600 × ( 112 100 )2 - 600 I = 600 × 1.2544 - 600 I = 752.64 - 600 = 152.64
P = 600, r = 12%, t = 2
Using Compound Interest Formula: I = P(1 + r)2 - P
I = 600(1 + 12 100 )2 - 600
I = 600 × ( 112 100 )2 - 600
I = 600 × 1.2544 - 600
I = 752.64 - 600 = 152.64
1297 MCQ for effective preparation of the test of Interest of Word Problems section.
Read the MCQ statement: What is the compound interest on 600 compounded annually, @ 12% for 2 years? , keenly and apply the method you have learn through the video lessons for Interest to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 228-12995.