Question

find the compound interest on 31250 at 2% pa for 2 years​

Answer 1

Answer:

31250×1.02×1.02-31250=1262.5

Answer 2

Answer:

The compound interest is 1262.5

Step-by-step explanation:

Given :

• Principal(p) = ₹31,250
• Rate(r) = 2%
• Time(n) = 2 years

Calculate the compound interest.

We know that,

C. I. = Amount - p

• Using Amount formula : $\sf p\bigg(1 + \dfrac{r}{100} \bigg)^{n}$

Solving further :

$\sf \longrightarrow p\bigg(1 + \dfrac{r}{100} \bigg)^{n} - p$

$\sf \longrightarrow 31250\bigg( 1 + \dfrac{2}{100} \bigg)^{2} - 31250$

$\sf \longrightarrow 31250 \bigg(1 + \dfrac{1}{50} \bigg) ^{2}$

$\sf \longrightarrow 31250 { \bigg( \dfrac{51}{50} \bigg)}^{2} - 31250$

$\sf \longrightarrow \bigg(31250 \times \dfrac{2601}{2500} \bigg ) - 31250$

$\sf \longrightarrow (12.5 \times 2601) - 31250$

$\sf \longrightarrow 32512.5 - 31250$

$\sf \longrightarrow 1262.5$

Hence, the compound interest is Rs. 1262.5