Question

A sum of Rs9600 is invested for 2 years at 10% per annum at compound interest. Find the amount and compound interest.​

Answer 1

Given :  P=Rs.9600

             R=10%

             T=1 year

 A=P(1+100R)T

 A=9600(1+10010)

 A=Rs.9696

Amount due after first year=Rs.9696

Answer 2

Answer:

A = Rs. 11,715.75

Given :

P = 9600 Rs.

R = 10%

T = 2 years

A = P + I where

P (principal) = Rs. 9,600.00

I (interest) = Rs. 2,115.75

Steps:

First, convert R percent to r a decimal

r = R/100

r = 10%/100

r = 0.1 per year,

Then, solve our equation for A

A = P(1 + r/n)nt

A = 9,600.00(1 + 0.008333333/12)(12)(2)

A = Rs. 11,715.75

Summary:

The total amount accrued, principal plus interest,

from compound interest on an original principal of

Rs. 9,600.00 at a rate of 10% per year

compounded 12 times per year

over 2 years is Rs. 11,715.75.