Question

find the compound interest on 3200 Rupees at 2.5 % per annum for 2 years compounded annually​

Answer 1

Answer:

CI =

A =3200 (I +2.5/100) 2

=3200x(102.5/100)^2

= 3362

Cl=3362-3200 = Rs162.50

Answer 2

The compound interest on 3200 Rupees at 2.5 % per annum for 2 years compounded annually​ is Rs.162

Solution:

Given that

Principal amount = 3200

Number of years = 2

Rate of interest = 2.5 %

The formula for compound interest is given as:

$\text { compound interest }=\mathrm{p}\left[1+\frac{\mathrm{r}}{100}\right]^{\mathrm{n}}-\mathrm{p}$

By substituting the values we get,

$\begin{array}{l}{=3200\left[1+\frac{2.5}{100}\right]^{2}-3200} \\\\ {=3200[1.025]^{2}-3200} \\\\ {=3200(1.05)-3200} \\\\ {=162}\end{array}$

Hence the compound interest value is Rs.162

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