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Question
Mon March 05, 2012 By:

# please mathematically prove that interest of given period of time is sum of all interest compounded during that period.

Tue March 06, 2012
Let for the first year onthe principal amount P , rate r% , I be the interest
So , I = P*r*1/100 = pr/100 , Amount = p + I = p(1+r/100)

For the second year P = p(1+r/100) , r = r%
So , Again interest I = p(1+r/100)r/100 , Amount = pr/100 + I = p(1+r/100)(1+r/100) = p(1+r/100)^2
As we go on more n number of years we get
Amount = p(1+r/100)^n which is sum of the principal amount and all interest compounded during that period.
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Wed March 30, 2016

# At the beginningome money by the end  of year 2011, a man had 22000 in his bank account. he saved some money by the end of this year and deposit it in the bank. the bank pays 10% per annum compound interest and at the end of year 2012 he had 39,820 in his bank account.find what amount of money he had save money and deposited in his account at the end of year 2011.

Wed March 30, 2016

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