Question

Find the amount on Rs. 2000 for 2
years at 5% p.a interest compounded
annually?
​

Answer 1

Step-by-step explanation:

ANSWER

For the first year, P=Rs.2000,R=5%

so, I =

100

P×R×T

=

100

Rs.2100×5×1

=Rs.105

The amount after the second year =Rs.2100+Rs.105

=Rs.2205

Final amount =Rs.2205

Hence, Compound Interest = final amount - original amount

=Rs.2205−Rs.2000=Rs.205

Answer 2

Step-by-step explanation:

given,

principal =2000

time =2years

rate=5%

compound interest =?

now,

according to formula,

ci=p ((1+R/100)^t-1)

CI=2000(100+5/100)^2-1)

=2000 ((1. 05)^2-1)

=2000×0. 1025

=205

compound amount =2000+205

=2205