Question

A persin invests ruppes 100000 on compound interest for 2 years at 10% p.a. calculate the amount that he will get back.

Answer 1

Amount=P(1+R/100)^n
=100000(1+10/100)^2
=100000*11/10*11/10
=121000

CI=Amount-Principal
=121000-100000
=21000





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Answer 2

Answer:

Investment = Rs. 1,00,000

Rate of interest : 10 % per annum

Time Period = 2 years

$\text{ Formula used for calculating Compound Interest} = P + [ 1 + \dfrac{R}{100} ]^T$

Substituting the values we get,

$\implies CI = 1,00,000 \: [ 1 + \frac{10}{100} ]^{2} \\ \\ \implies CI = 1,00,000 \: [ 1 + 0.1 ]^2 \\ \\ \implies CI = 1,00,000 \: [ 1.1 ]^2 \\ \\ \implies CI = 1,00,000 \times 1.21 \\ \\ \implies CI = 1,21,000$

Amount = CI - Investment

=> Amount = 1,21,000 - 1,00,000

=> Amount = 21,000

Hence we will get Rs. 21,000 as amount after two years.