Question

Find compounded interest on rs 12600 for 2 years at 10 % p.a. compounded annually . please solve this question

Answer 1

Given, principal = ₹ 12,600

time = 2yrs , rate = 10 % per annum

Find the amount:
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amount = p [ 1 + (r/ 100 ) ]^t

amount = 12,600 [ 1 +( 10/100 ) ] ^2

amount = 12,600 ( 11 / 10 )^2

amount = (12,600 × 121) / 100

amount = ₹ 15246

Find the C.I :
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compound interest = amount - principal

compound interest = ₹ 15246 - ₹ 12600 = ₹ 2646

therefore , the required compound interest = ₹2646

Answer : C.I = ₹ 2646

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Answer 2

$\bf{Given\: :}$
Principal (P) = Rs. 12600
Rate of Interest (R) = 10% per annum
Time (n) = 2 years

We know that,

$Compound\: Interest \: (C.I) = P[ {(1 + \frac{R}{100} )}^{n} - 1 ] \\ \\ C.I = 12600[ {(1 + \frac{10}{100} )}^{2} - 1 ] \\ \\ C.I = 12600 [ {(1 + \frac{1}{10} )}^{2} - 1 ] \\ \\ C.I = 12600 [ {( \frac{10 + 1}{10}) }^{2} - 1 ] \\ \\ C.I = 12600[ ( { \frac{11}{10} )}^{2} - 1 ] \\ \\ C.I = 12600[ \frac{121}{100} - 1 ] \\ \\ C.I = 12600[ \frac{121 - 100}{100} ] \\ \\ C.I = 12600 \times \frac{21}{100} \\ \\ C.I = 2646$

Hence,
$\bf{Compound\: Interest \:is \:Rs.2646}$