Question

Find CI on rupees 12600 for2 years at 10% per annum compound annually

Answer 1

Solutions :-

Some of the abbreviations used in the solutions are :-

Principle = p
Time = t
Rate = r
Compound Interest = C.I
Amount = A


Given :

p = Rs 12600
t = 2 years
r = 10% p.a


Find the Amount by using Compound Interest formula :-

A = p (1 + r)^t
= Rs 12600 (1 + 10%)²
= Rs 12600 (1 +0.10)²
= Rs 12600 (1.10)²
= Rs 12600 × 1.21
= Rs 15246


Now,
Find the Compound Interest :-

C.I = A - p
= Rs (15246 - 12600)
= Rs 2646



Hence,
Compound Interest = Rs 2646

Answer 2

Solutions :-


We have,

Principle = p = Rs 12600
Rate = r = 10% p.a = 10/100 = 0.10
Time = t = 2 years
Compound Interest = C.I = ?
Amount = A = ?


Find the Amount :-

A = p (1 + r)^t
= Rs 12600 (1 + 0.10)²
= Rs 12600 (1.10)²
= Rs 12600 (1.21)
= Rs 15246


Find Compound Interest :-

C.I = A - p
= Rs (15246 - 12600)
= Rs 2646



Answer : Compound Interest = Rs 2646