Question

find the compound interest if $10,000 are invested
for 3 years
at the rate of 10 p.c.p.a.​

Answer 1

Here, P = ₹ 2000; R = 5 % ; N = 2 years

A=P(1+R100)N =2000(1+5100)2 =2000(105100)2 =2000(2120)2 =2205 Rupees∴ Compound Interest after 2 years,I = Amount − Principal =2205−2000 =205 Rupees

Hence, Amount = ₹ 2205 and Compound interest= ₹ 205