Question

find the compound interest and amount on Rs. 10,000 for 2 years at the rate of 3% per annum


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Answer 1

Answer:

P = 10000

R = 3%

T = 2 years

SI FOR 1ST YEAR :

SI = p × t × r/100

= 10000 × 3 × 1 / 100

= 300

Amount = p + si = 10000 + 300 = 10300

SI FOR 2ND YEAR:

P = AMOUNT OF 1ST YEAR = 10300

r = 3

t = 1

SI = 10300 × 3 ×1 /100

= 309

AMOUNT = 10300 + 309 = 10609

CI = AMOUNT - PRINCIPAL = 10609 - 10000

= 609