Question

Find compound interest on Rs. 6250 at 16% per annum for 2 years, compounded annually.
(A) Rs. 3165
(B) Rs. 5425
(C) Rs. 2160
(D) Rs. 3000​

Answer 1

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Given :-

• Principal = 6250 Rs

• Rate = 16%

• Time = 2 years

Solution :-

$= > amount= principal(1 + \frac{rate}{100} ) {}^{time}$

$= > amount = 6250(1 + \frac{16}{100} ) {}^{2}$

$= > amount = 6250 \times \frac{116}{100} \times \frac{116}{100}$

$= > amount = \frac{84,100,000}{10000}$

$= > amount = 8,410$

=> Compount Interest = Amount - Principal

=> Compound Interest = 8410 - 6250

=> Compount Interest = 2160 Rs

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Answer 2

ǫᴜᴇsᴛɪᴏɴ

Find compound interest on Rs. 6250 at 16% per annum for 2 years, compounded annually.

(A) Rs. 3165

(B) Rs. 5425

(C) Rs. 2160

(D) Rs. 3000

ғᴏʀᴍᴜʟᴀ ᴜsᴇᴅ

A=P(1+R/100)ᵗ

CI = A-P

sᴏʟᴜᴛɪᴏɴ

A=6250(1+16/100)2

A=6250(1+0.16)2

A=6250(1.16)2

A=6250×(1.16×1.16)

A=6250×1.3456

8,410-6250

=2,160