Question

find the amount on principle Rs. 1000 at 10%p.a. for 2 years is​

Answer 1

P= Rs. 1000,

R=10%, p.a.

T=3 years

Interest for the 1st year

=

100

P×R×T

=

100

1000×1×10

=Rs.100

Amount after the 1st year = Principal for the 2nd year =1000+100=Rs.1100

Interest after 2nd year =

100

1100×1×10

=Rs.110

Amount after the 2nd year =Principal ( for the 3rd year) =1100+110=Rs.1210

Interest for the 3rd year =

100

1210×1×10

=Rs.121

Amount after the 3rd year =1210+121=Rs.1331

Compound interest for three years =Amount (after 3 years) - (initial)Principal

=Rs.1331−Rs.1000=Rs.331

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Answer 2

Answer:

Interest= P×R×T/100

Interest = 1000×10×2/100 = Rs. 200 (Interest)

Total Amount to be Returned = 1000+200=1200 Rs

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