Question

find compound interest on Rs 10,000 at 8% for 2 years.​

Answer 1

Given :

• Principal = Rs.10000
• Rate = 8 %
• Time = 2 years

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To Find :

• Compound Interest = ?

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Solution :

~ Formula Used :

$\large{\color{darkblue}{\bigstar}} \: \: {\underline{\boxed{\orange{\sf{ C.I = P \bigg\{ 1 + \dfrac{R}{100} \bigg\} ^T - P }}}}}$

Where :

• ➺ C.I = Compound Interest
• ➺ P = Principal
• ➺ R = Rate
• ➺ T = Time

$\qquad{━━━━━━━━━━━━━━━━━━━━━━━}$

~ Calculating the Compound Interest :

${:\implies{\qquad{\sf{ C.I = P \bigg\{ 1 + \dfrac{R}{100} \bigg\} ^T - P }}}} \\ \\ \ {:\implies{\qquad{\sf{ C.I = 10000 \bigg\{ 1 + \dfrac{8}{100} \bigg\} ^2 - 10000 }}}} \\ \\ \ {:\implies{\qquad{\sf{ C.I = 10000 \bigg\{ 1 + \cancel\dfrac{8}{100} \bigg\} ^2 - 10000 }}}} \\ \\ \ {:\implies{\qquad{\sf{ C.I = 10000 \bigg\{ 1 + 0.08 \bigg\} ^2 - 10000 }}}} \\ \\ \ {:\implies{\qquad{\sf{ C.I = 10000 \bigg\{ 1.08 \bigg\} ^2 - 10000 }}}} \\ \\ \ {:\implies{\qquad{\sf{ C.I = 10000 \times 1.08 \times 1.08 - 10000 }}}} \\ \\ \ {:\implies{\qquad{\sf{ C.I = 11664 - 10000 }}}} \\ \\ \ {\qquad{\textsf{ Compound Interest = {\pink{\bf{ ₹ \: 1164 }}}}}}$

$\qquad{━━━━━━━━━━━━━━━━━━━━━━━}$

~ Therefore :

❝ Compound Interest on this amount for at 8 % for 2 years is ₹ 1164 . ❞

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