Question

Find CP on rs 12600for 10% per annum compounded annually ?
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Answer 1

Correct Question :

• Find Compound Interest on Rs 12600 for 2 years at 10% per annum compounded annually ?

Given :

• Principal (P) = Rs 12600
• Rate (R) = 10%
• Time (n) = 2years

To Find :

• Compound interest

Formula :

• A = P [1 + R / 100]^n
• C.I = A - P

Where :

• A denotes Amount
• P denotes Principal
• R denotes Rate
• n denotes Time
• C.I denotes Compound Interest

Solution :

⇒ A = P [1 + R / 100]^n

⇒ A = 12600 [1 + 10 / 100]²

⇒ A = 12600 [110 / 100]²

⇒ A = 12600 × 11/10 × 11/10

⇒ A = 126 × 11 × 11

⇒ A = 126 × 121

⇒ Amount =Rs 15,246

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➞ C.I = Amount - Principal

➞ C.I = 15246 - 12600

➞ Compound Interest = Rs 2,646

Thus Compound Interest is Rs 2646

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