Question

Calculate the compound interest on rupees 7000 at 9% per annum for 2 year

Answer 1

Given:

The Principal (P) = Rs 7000

The Rate of Interest (R) = 9% p.a

Time (n) = 2 years

To find:

The compound interest (C.I)

The formula to find the compound interest is

$\boxed{C.I = P \bigg[ (1+\frac{R}{100})^{n} -1 \bigg]}$

$C.I = 7000 \bigg[ (1+\frac{9}{100})^{2} -1 \bigg]$

$C.I = 7000 \bigg[ (\frac{100+9}{100})^{2} -1 \bigg]$

$C.I = 7000 \bigg[ (\frac{109}{100})^{2} -1 \bigg]$

$C.I = 7000 \bigg[ (\frac{11881}{10000}) -1 \bigg]$

$C.I = 7000 \bigg[ (\frac{11881-\bf{10000}}{10000}) \bigg]$

$C.I = 7\not{0}\not{0}\not{0} \times (\frac{\bf{1881}}{10\not{0}\not{0}\not{0}})$

$C.I = 7 \times (\frac{\bf{1881}}{10})$

$C.I = (\frac{\bf{13167}}{10})$

C.I = Rs 1316.7

Hence,

• The compound interest is Rs 1316.7

Answer 2

$\tt {\pink{Given}}\begin{cases} \sf{\green{Principal \: (P)=Rs. \: 7000}}\\ \sf{\blue{Time \: (n)=2\:Years}}\\ \sf{\orange{Rate \: (R)=9\%}}\\ \sf{\red{Compound \: intrest \: (CI)= \: ?}}\end{cases}$

Answer:

$:\implies \sf Compound \: Intrest = P \Bigg\| \bigg\lgroup 1 + \dfrac{R}{100}\bigg\rgroup^{n} - 1 \Bigg\|$

$:\implies \sf Compound \: Intrest = 7000 \Bigg\| \bigg\lgroup 1 + \dfrac{9}{100}\bigg\rgroup^{2} - 1\Bigg\|$

$:\implies \sf Compound \: Intrest = 7000 \Bigg\| \bigg\lgroup \dfrac{100 + 9}{100}\bigg\rgroup^{2} - 1 \Bigg\|$

$:\implies \sf Compound \: Intrest = 7000 \Bigg\| \bigg\lgroup \dfrac{109}{100}\bigg\rgroup^{2} - 1 \Bigg\|$

$:\implies \sf Compound \: Intrest = 7000 \Bigg\| \bigg\lgroup \dfrac{11881}{10000}\bigg\rgroup - 1 \Bigg\|$

$:\implies \sf Compound \: Intrest = 7000 \Bigg\lgroup \dfrac{11881 - 10000}{10000}\Bigg\rgroup$

$:\implies \sf Compound \: Intrest = 7000 \Bigg\lgroup \dfrac{1881}{10000}\Bigg\rgroup$

$:\implies \sf Compound \: Intrest = \dfrac{7 \times 1881}{10}$

$:\implies \sf Compound \: Intrest = \dfrac{13167}{10}$

$:\implies \underline{ \boxed{\textsf{ \textbf{ Compound Intrest = Rs. 1316.7}}}}$

$\therefore\underline{\textsf{The Compound Intrest is \textbf{Rs. 1316.7}}}.$