Question

80. What will be the compound interest on Rs. 2,000 for 3 years at the rate of interest of 10% per annum?​

Answer 1

Step-by-step explanation:

$ci \: = p((1 + \frac{r}{100} ) {}^{2} - 1)$

$ci \: = \: 2000((1 + \frac{10}{100} ) {}^{2} - 1)$

$ci \: = \: 2000(( \frac{100 + 10}{100} ) {}^{2} - 1)$

$ci \: = \: 2000(( \frac{110}{100} ) {}^{2} - 1)$

$ci \: = \: 2000(( \frac{11 {}^{2} }{10 {}^{2} } ) - 1)$

$ci \: = \: 2000( \frac{121}{100} - 1)$

$ci \: = \: 2000( \frac{121 - 100}{100} )$

$ci \: = \: 2000( \frac{21}{100} )$

$ci \: = \: 2000 \times \frac{21}{100}$

$ci \: = \: 20 \times 21$

$ci \: = \: 420$

hence The compound interest is ₹420

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