Question

What is the interest on $800 at 6% for 4 years?

Answer 1

P=800

R=6%

T=4

I=?

we have,

 I=PTR/100

   = 800*4*0.06/100

   =192

therefore, the interest is $192.......

Answer 2

initial capital = $800

interest = 6%

time = 4 years


the entire amount after 4 years:

$100\%+6\%=106\%=1.06\\\\\ 800\cdot(1.06)^4\approx\ 800\cdot1.2625\approx\ 1009.98$

The interest: $1009.98 - $800 = $209.98

$Answer:\boxed{the\ interest=\ 209.98}$