Question

Find compound interest on the following principal=5000 rate=10% number of years=2 P=5000 R=10% T=2years


P=5000
R=10%
T=2year
Formula=PxRxT/100
5000*10*1/100=500
5000+500=5500
5500*10*1/100=550
500+550=950

Ans=950

Answer 1

⭐⭐ Here is your answer ⭐⭐

▶▶ Hope this helps you ▶▶

$<u><b>Compound Interest :-</b></u>$

Compounding at Annually:

Principle = ₹5000

Rate of interest = 10%

Number of years = 2years

Amount = P (1 + $\frac{R}{100}$)^n

= 5000 (1 + $\frac{10}{100}$)^2

= 5000 ($\frac{11}{10}$)

= 5000 ($\frac{11}{10}$)( $\frac{10}{100}$)

= ₹6050

C.I = Amount - Principle

= 6050 - 5000

= 1050

$<u><b>Simple Interest :-</u></b>$

Principle = ₹5000

Rate of interest = 10%

Number of years(time)= 2years

Simple Interest = ${P×R×T}{100}$

= ${5000×10×2}{100}$

= ₹1,00,000

Answer 2

Given: principal=5000 rate=10% number of years=2.

To find: We have to find the compound interest.

Solution:

To determine the compound interest we have to follow the below formula-

The formula of compound interest is given as-

$p {(1 + \frac{r}{100} )}^{n}-p$

Where p is the principal amount which is equal to 5000.

r is the rate of interest which is equal to 10%.

n is the number of years which is equal to 2 years.

The compound interest will be as follows-

$5000 {(1 + \frac{10}{100}) }^{2} - 5000 \\ 5000 \times \frac{11}{10} \times \frac{11}{10} - 5000\\ 5000 \times \frac{121}{100} - 5000 \\ 50 \times 121 - 5000 \\ 50(121 - 100) \\ 50 \times 21 \\ = 1050$

The result is 1050.

The compound interest is 1050 rupees.