Question

Find the compound interest of rupees 5000 at the rate of 10% per annum for 2 years

Answer 1

Answer:

p = ₹5000

r = 10%

n=2 years

$ci \: = p((1 + \frac{r}{100} )^{2} - 1 \\ \\ = 5000((1 + \frac{10}{100})^{2} - 1) \\ \\ = 5000((1 + \frac{1}{10} )^{2} - 1) \\ \\ = 5000( \frac{11}{10} )^{2} - 1) \\ \\ = 5000( \frac{121}{100} - 1) \\ \\ = 5000( \frac{121 - 100}{100} ) \\ \\ = 5000( \frac{21}{100} ) \\ \\ = 5000 \times \frac{21}{100} \\ \\ = 50 \times 21 \\ \\ = 1050$

therefore,

CI = ₹1050

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