Question

Find 7 on rupees 12600 for 2 years at 10% per annum compound

Answer 1

CORRECTION IN QUESTION:

Q. Find CI on Rs 12600 for 2 years at 10% per annum compound annually.

SOLUTION :

It is given that,

Principal = 12600

Time = 2 years

Rate = 10 %

Let, "a" be the amount after 'n' years.

Applying the formula,

$a \: = p(1 + { \frac{r}{100}) }^{2}$

Putting the values of p = 12600 and r = 10 in the formula, we get,

$a = 12600(1 + { \frac{10}{100}) }^{2}$

$a = 12600(1 + { \frac{1}{10} })^{2}$

$a = 12600( { \frac{10 + 1}{10} )}^{2}$

$a = 12600 + ( { \frac{11}{10} })^{2}$

$a = 12600 \times \frac{121}{100}$

$a = 15246$

Therefore, amount after 2 years is Rs 15246

Again applying the formula of Amount (a),

Amount = Principal + Interest

15246 = 12600 + I

15246 - 12600 = I

I = 2646

Hence, the required CI is 2646

Answer 2

$\huge{\ulcorner{\red{\underline{Question}}}}\rfloor$

⏩As there is a mistake in the Question , It should be :-

Find out the Compound Interest on R.s 12600 for 2 years at 10% interest compounded annually .

$\huge{\ulcorner{\blue{\underline{Answer}}}}\rfloor$

⏩So we have to find out the compound Interest ,

◾Provided :-

▪️Principle Amount :- 12600

▪️Rate :- 10%

▪️Time :- 2 years

◾Now according to the Compound Interest Formula

$\sf{ CI = P[( 1 + r)^t - 1]}$

◾Now putting the values :-

$\implies\sf{CI = 12600[(1 + \frac{10}{100})^2 - 1]}$

$\implies \sf{CI = 12600[(\frac{11}{10})^2 - 1] }$

$\implies\sf{CI = 12600[\frac{121}{100} - 1]}$

$\implies \sf{CI = 12600[\frac{121-100}{100}] }$

$\implies \sf{CI = 12600[\frac{21}{100}]}$

$\implies \sf {CI = 126\cancel{00} \times \dfrac{21}{1\cancel{00}}}$

$\implies \sf{CI = 126 \times 21 }$

$\implies \sf{CI = 2646 }$

So Compound Interest = R.s 2,646.