Question

7.Find the compound interest on Rs.3200 at
2% p.a for 2 years, compounded annually.​

Answer 1

Answer:

7.Find the compound interest on Rs.3200 at

2% p.a for 2 years, compounded annually.

Answer 2

Answer:

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Q. The compound interest on 3200 Rupees at 2.5 % per annum for 2 years compounded annually is Rs.162

Solution:

Given that,

Principal amount = 3200

Number of years = 2

Rate of interest = 2.5 %

The formula for compound interest is given as~~~~

$compound \: intrest = p(1 + \frac{r}{100}) {}^{n}$

by substituting we get ~~~

$= 3200(1 + \frac{2.5}{100} ) {}^{2} - 3200 \\ = 3200(1.025) {}^{2} - 3200 \\ = 3200(1.05) - 3200 \\ = 162$

Hence the compound interest value is Rs.162

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