Question

Calculate the compound interest on ₹6000 at 10% per annum for two years.

Answer 1

Step-by-step explanation:

Heya friend,

Given that

P = ₹6,000

R = 10 % p.a.

T = 2 years

Solution

C.I. = P{(1+R/100)^ n - 1}

= 6,000{(1+10/100)^2 - 1}

= 6,000{(100+10/100)^2 - 1}

= 6,000{(110/100)^2 - 1}

= 6,000{(11/10)^2 - 1}

= 6,000{121/100 - 1}

= 6,000{121-100/100}

= 6,000 × 21/100

= ₹1,260

Thanks

With regards@

Tanisha

Answer 2

Step-by-step explanation:

The compound interest on a certain sum of money for one year 146 days at 14.28% per annum is Rs.

...

Amount accrued in 2- years at 10%, Compound interest, for a sum of Rs.6000 = 6000 (1.05)⁴

= Rs.7293.

So compound interest gained= Rs (7293–6000)= Rs 1293.