Question

Calculate compound interest where P = 1000, R= 10 p.c.p.a. , N = = 2 years​

Answer 1

QUESTION :-

find the compound interest if Rs 1000 are invested for 2 years at this rate of 10 p.c.p.a.

ANSWER:-

p=Rs.1000

r = 14%

t(n)=2Years.

.°. p(1+r/100)^t

.°. 1000(1+14/100)²

.°. 1000(1+7/50)²

.°. 1000(1+57/7)²

.°. 1000 × 57×57/ 7×7

.°. 142.85 ×3249 ×7

.°. 20.40 ×3249

.°. Rs.66,279.6

HENCE,

.°. compound interest is Rs.66,279

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