Question

Find compound interest on principal 9000 time 2years 4 months and rate 10

Answer 1

First we have to find simple interest for

T=4 months=4/12

P=9, 000

R=10

S.I =(P×R×T)/100.

. . =(9, 000×10×4)/(100×12)

. . =Rs300

Compound interest for

P=9, 000

T=2

R=10%

Amount=P(1+R/100)power n

=9, 000(1+10/100)power 2

=9, 000(1+1/10)power 2

=9, 000{(10+1)}power 2

=9, 000(11)power 2

=9, 000×11×11

=Rs 1,08,900

Amount =Rs 1,08,900

Compound interest=1,08,900–9,000

C.I=Rs 1,080,000

Total C.I=Rs 1,08,000+Rs 300

=1,08,300.