Question

find compound interest on the following principal =r10000 rate 12% yers 2

Answer 1

Answer:

Compound Interest = Rs 2,544

Step-by-step explanation:

Given-

Principle = Rs 10,000

Rate of interest = 12%

Time = 2 years

To Find - Compound Interest

Solution-

First lets find the amount to be paid

Amount = Principle ( 1 + Rate/100)^years

             = 10,000 ( 1+ 12/100)²

             = 10,000 (100+12/100)²..............LCM = 100

             = 10,000 (112/100)²

             = 10,000 (1.12)²

             = 10,000 (1.2544)

             = Rs 12,544

Compound Interest = Amount - Principle

                                 = 12,544 - 10,000

                                 = Rs 2,544

HOPE THIS HELPED!!!!!!