Question

find the compound interest on ₹12600 for 2 years 4 months at 10% per annum, compounded yearly​

Answer 1

Correct Question:

Find the compound interest on rupees 12600 for 2 years 4 months at 10% per annum compounded yearly

Solution :

Formula : A = P(1 + r)n

A is the total amount

P is the principal which means the amount which is invested.

R is the rate of interest.

N is known as the time the years of the investment.

A = 12600(1 + 0.1)²

A = Rs 15246

So,

Interest = 15246 - 12600 = Rs 2646

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