Question

Calculate the amount and the compound interest on: (I) ₹3500 at 10% per annum in 2 years (ii)₹6000 in 3 years at 5% per annum.

Answer 1

Given
P= Rs. 3500
R=10%
T=2 years
C. I. =
For 1st YR = PXRXT/100
=3500X10X1/100
=RS.350
AMOUNT =P+I
3500+350
RS.3850
FOR 2ND YR=3850X10X1/100
=385
AMOUNT=3850+385
=RS.4235
C.I.=FA-IP
=RS. 4235-RS.3500
=735