Question

6. Calculate the compound interest that Manish will get, if he invests *1800 at 14% per annum for 2 years in a bank ​

Answer 1

Answer:

Given, principal = ₹ 1800

rate = 14 % per annum

time = 2 yrs

Find the amount :

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since, we know

amount = p [ 1 + ( r /100 ) ]^t

amount = 1800 [ 1 + ( 14 /100 ) ]^2

amount = 1800 ( 114 / 100 )^2

amount = 1800 ( 57 / 50 )^2

amount = 1800 × ( 57 / 50 ) × ( 57 / 50 )

amount = 58482 ÷ 25 = ₹ 2339.28

Find the compound interest :

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C.I = amount - principal

C.I = 2339.38 - 1800 = ₹ 539.28

Answer : compound interest = ₹ 539.28

Answer 2

Rs. 12,500 lent at compound Interest for two years at 10% per annum fetches Rs.