Question

find ci on rupees 12600 for 2 years at 10 percent per annum compound annually

Answer 1

Solution :

Principal ( P ) = Rs 12600

Rate of interest ( r ) = 10%

Time ( T ) = 2 years

Number of times Interest paid = n = 2

Amount ( A ) = P( 1 + r/100 )ⁿ

= 12600( 1 + 10/100 )²

= 12600( 1 + 1/10 )²

= 12600( 11/10 )²

=( 12600 × 11 × 11 )/(10 × 10 )

= 126 × 121

= Rs 15246

Therefore ,

compound interest (c.i) = A - P

= Rs 15246 - Rs 12600

= Rs 2646

•••••

Answer 2

Answer : Rs. 2,646

Solution :
________

Given that : Principal = Rs. 12,600

Time = 2 years

Rate of interest = 10%

Compound interest = ?

As we know that :

$C.I. = P[ {(1 + \frac{r}{100}) }^{n} - 1] \\ \\ = > C.I. = 12600[ {(1 + \frac{10}{100}) }^{2} - 1] \\ \\ = > C.I. = 12600 \times ({ \frac{11}{10} )}^{2} - 12600 \\ \\ = > C.I. = 12600 \times \frac{11 \times 11}{10 \times 10} - 12600 \\ \\ = > C.I. = 15246 - 12600 \\ \\ = > C.I. = 2646$

So, the Compound interest will be Rs. 2,646