Question

1. Compute the compound interest on:
(i) 9,000 for 3 years at 10% per annum.​

Answer 1

$\huge\rm{Given:}$

Present value= ₹ 9000

Interest rate= 10 % per annum

Time=3 years

$\huge\rm{To\:Find:}$

Compound intrest

$\huge\rm{Solution:}$

The amount we have the formula,

Amount (A) = P (1+(R/100))n

Where P is present value, r is rate of interest, n is time in years. Now substituting the values in above formula we get,

∴ A = 9000 (1 + 10/100)3

⇒ A = 9000 (1+1/10)3

⇒ A = 9000 (11/10)3

⇒ A = 9000 × 1331/1000

⇒ A = ₹ 11979

∴ Compound interest = A – P

= 11979 – 9000 = ₹ 5979

Answer 2

Step-by-step explanation:

Given:

Present value= ₹ 9000

Interest rate= 10 % per annum

Time=3 years

\huge\rm{To\:Find:}ToFind:

Compound intrest

\huge\rm{Solution:}Solution:

The amount we have the formula,

Amount (A) = P (1+(R/100))n

Where P is present value, r is rate of interest, n is time in years. Now substituting the values in above formula we get,

∴ A = 9000 (1 + 10/100)3

⇒ A = 9000 (1+1/10)3

⇒ A = 9000 (11/10)3

⇒ A = 9000 × 1331/1000

⇒ A = ₹ 11979

∴ Compound interest = A – P

= 11979 – 9000 = ₹ 5979