Question

calculate the compound interest on ₹6000,at 10% a.n for 2 years​

Answer 1

Answer:

Step-by-step explanation:

Principal(P)=rs. 6000

Rate(R) =10%

Time(t)=2years

Compound Interest=P×(1+R/100)^2

=6000×(1+10/100)^2

=6000×11/10×11/10

=7260

=Compound Interest=rs. 7260-rs.6000

=rs.1260

So the compound interest on rs. 6000 at 10% per annum for 2 years will be rs. 1260 (Ans.)

Answer 2

Given

Rate of interest = 10% per annum

Principal for the first year = Rs 6000

Interest for the first year = Rs (6000 × 10 × 1) / 100

= Rs 600

Amount at the end of first year = Rs 6000 + Rs 600

= Rs 6600

Principal for the second year = Rs 6600

Interest for the second year = Rs (6600 × 10 × 1) / 100

= Rs 660

Amount for the second year = Rs 6600 + Rs 660

= Rs 7260

Therefore, compound interest for 2 years = final amount – (original) Principal

= Rs 7260 – Rs 6000

We get,

= Rs 1260