RRate of interest compounded annually. Learn the concepts of Class 8 Maths Comparing Quantities with Videos and Stories. To calculate compound interest we need to know the amount and principal.
RRate of interest compounded annually.
1 20808 Step 1 Since population increases by 2 annually we can use compound interest formula where current population can be considered as principal. Each year our sum or principal changes. Compound interest is interest on interestIt is the result of reinvesting interest rather than paying it out so that interest in the next period is then earned on the principal sum plus previously-accumulated interest. Compute the amount and the compound interest in each of the following by using the formula when.