Question

Find the amount and compound interest on Rs. 2500 for 3 years at 10 % p.a. compounded
annually

Answer 1

Answer:

CI=827.5

Amount=3327.5

Step-by-step explanation:

Given,

Rs. 2500 for 3 years at 10 % p.a.

1st year:

10%of 2500=250

2nd year:

amount is 2500+250=2750

10%of 2750=275

3rd year:

amount is 2750+275=3025

10% of 3025=302.5

CI is 250+275+302.5=827.5

Amount = 2500+827.5=>3327.5

Answer 2

Given :-

Principle = rs. 2500

Time = 2 years

Rate = 10%

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As we all know that

a = p (1 + r / 100)ᵗ

putting all above values in this equation :-

a = 2500 × ( 1+ 10/100)²

a = 2500 × ( 110/100 )²

a = 2500 × ( 11/10)²

a = 2500 × 11/10 × 11/10

a = 25 × 11 × 11

a = 3025rs

Now,

compound interest = amount - principle

= 3025 rs. - 2500 rs.

= 525 rs answer

hope this helps you:)