Question

Find the amount and the compound interest on ₹2000 at 10% p.a for 2.5 years,compounded anually

Answer 1

Step-by-step explanation:

CI = p * ( 1 + RT/100 )

= 2000 * ( 1 + 10*2.5/100)

= 2000 * ( 1 + 25/100 )

= 2000 * ( 1 + 1/4)

= 2000 * 5/4 = 500*5

= 2500 rupees

Answer 2

Step-by-step explanation:

P = 2000

R = 10%

T = 2.5

A = P (1+R/100)^T

= 2000 (1+10/100)^2.5

= 2000(1+ 1/10)^2.5

= 2000×11/10 × 11/10

= 20 × 11 × 11 = 2420rupees