Question

6000 for 2 years at 9% per annum compounded annually.
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Answer 1

Answer

Amount = P ( 1 + R / 100 )^T

Given :

Principal = Rs. 6000

Time Period = 2 years

Rate of interest = 9%

Substituting in the formula we get,

=> Amount = 6000 ( 1 + 9 / 100 )²

=> Amount = 6000 ( 1 + 0.09 )²

=> Amount = 6000 ( 1.09 )²

=> Amount = 6000 ( 1.1881 )

=> Amount = 7128.60

Hence the amount is Rs. 7128.60

Compound Interest = Amount - Principal

=> CI = 7128.6 - 6000.0

=> CI = 1128.6

Hence it is the required answer.

Answer 2

Answer:

Step-by-step explanation:

Given - Principal = 6000

Rate of interest = 9%

Years = 2

Amount = Principal (1 + R / 100) raised to N

= 6000 (1 + 9 / 100) raised to 2

= 6000 x 109 / 100 x 109 x 100

= 6 x 11881 / 10

= 71286 / 10

= 7128.6

Therefore the amount will be rs. 7128.6