Question

10. If the simple interest on a sum for 2 years at 10% p.a. is 1000 and the same amount is borrowed for 2 years
at 8% p.a. and compounded annually then find the compound interest and the amount to be paid after 2
year​

Answer 1

Answer:

WE KNOW THAT FORMULA OF SIMPLE INTEREST IS 'I= P× R× T /100'

GIVEN : PRINCIPAL = 1000₹

TIME = 2 YEARS

RATE OF INTEREST = 10%

WE HAVE TO FIND INTEREST AND AMOUNT

BY THE FORMULA,

I = P× R ×T/100

I = 1000×10×2/100

I = 20000/100

I = 200

AMOUNT = PRINCIPAL + INTEREST

AMOUNT = 1000 + 200

AMOUNT = 1200

NOW, WE ALSO KNOW THAT FORMULA OF COMPOUND INTEREST IS 'C.I = P(1+R/100)n

BY FORMULA,

C.I = P(1+R/100)n

C.I = 1000(1+8/100)2

C.I = 1000(108/100)2

C.I = 1000× 11664/10000

C.I = 1,166.4

AMOUNT = PRINCIPAL + C.I

AMOUNT = 1000 + 1,166.4

AMOUNT = 2166.4

I HOPE THIS WILL HELPFUL TO YOU

Answer 2

Answer:

Step-by-step explanation:

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