Question

Find compound interest on Rs.7500 at 4% per annum for 2 years,compounded annually ​

Answer 1

We know CI = A - P

Or, CI = P(1+r/100)^n - p

Or, CI = P [(1+r/100)^n - 1]

Or, CI = 7500[(1+4/100)² - 1] [where P = 7500, r = 4 and n = 2]

Or, CI = 7500[(26/25)²- 1]

Or, CI = 7500*(26/25 - 1)(26/25 + 1)

Or, CI = 7500*1/25*51/25

Or, CI = 612

Answer 2

Answer:

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ANSWER

Given, P= Rs. 7500,R=4%,n=2 years

We know, Amount =A=P(1+

100

R

)

n

Therefore, amount = Rs [

7500×{

1+(

100

4

)

}

2

]= Rs. 8112

Compound Interest = Rs. (

8112−7500

)= Rs. 612