Question

* At the rate of 10% compounded interest rate, Rs. 52000 in 2 years was Rs. 57600. So what is compound interest?​

Answer 1

Answer:

Correct Question :- Rs.52000 is deposited at 10% rate compounded annually for 2 years. Find the compound interest ?

Solution :-

we know that, when rate is compounded annually ,

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

putting values we get,

→ A = 52000 * [1 + (10/100)]²

→ A = 52000 * [1 + (1/10)]²

→ A = 52000 * (11/10)²

→ A = 52000 * (121/100)

→ A = 520 * 121

→ A = Rs.62920

therefore,

→ CI = A - P

→ CI = 62920 - 52000

→ CI = Rs.10,920 (Ans.)

Note :-

(If you have written correct values , you can find compound interest directly by subtracting Principal from amount , as both values are given.

CI = 57600 - 52000 = Rs.5600 )

Step-by-step explanation:

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