Question

calcute the compound interest on Rs 6000 for 2years at 9% per annum compound annually
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Answer 1

Answer:

p=6000

T=2yrars

R=9%

I1= p*R*T/100

6000*1*9/100=54000

I2=

Answer 2

Given :-

• Principle (P) = Rs.6000

• Time (T) = 2 years

• Rate of interest (R) = 9%

To find :-

• Compound interest (C.I)

Solution :-

As we know that

→ Amount = P(1 + R/100)ⁿ

→ A = P(1 + R/100)ⁿ

Substitute all the values of principle, rate and time

→ A = 6000(1 + 9/100)²

→ A = 6000(100 + 9/100)²

→ A = 6000(109/100)²

→ A = 6000 × 109/100 × 109/100

→ A = 6 × 109 × 109/10

→ A = 71286/10

→ A = Rs.7128.6

• Therefore, amount is Rs.7128.6

Compound interest = Amount - Principle

→ C.I = 7128.6 - 6000

→ C.I = Rs.1128.6

Hence,

• Compound interest is Rs.1128.6