Question

find the compound interest on 6,500 for two years at 9% per annum.

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Answer 1

Answer:

Rs. 1222.65

Given:

Principal=Rs. 6,500

Time=2 years

Rate=9%

To find:

Compound interest

Solution:-

Principal=Rs. 6,500

Time=2 years

Rate=9%

We know that

C.I=P[(1+R/100)^T-1]

$= 6500(1 + { \frac{9}{100}) }^{2} - 1$

$= 6500( { \frac{109}{100})}^{2} - 1$

$= 6500 (\frac{11881}{10000})- 1$

$= 6500 \times \frac{118881 - 10000}{10000}$

$= 6500 \times \frac{1881}{10000}$

$= \frac{122265}{100}$

$= 1222.65$

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Compound Interest is Rs. 1222.65

Answer 2

SOLUTION:-

Given:

Principal,(P)= Rs.6500

Rate, (R)= 9%

Time,(n)= 2 years

Therefore,

We know that, formula of compound Interest;

C.I.= Amount - Principal

&

$A = P(1 + \frac{R}{100} ) {}^{n} \\ \\ = > 6500(1 + \frac{9}{100} ) { }^{2} \\ \\ = > 6500( \frac{100 + 9}{100} ) {}^{2} \\ \\ = > 6500( \frac{109}{100} ) {}^{2} \\ \\ = > 6500 \times \frac{109}{100} \times \frac{109}{100} \\ \\ = > \frac{13 \times 109 \times 109}{20} \\ \\ = > Rs.\frac{154453}{20} \\ \\ = > Rs.7722.65$

Now,

Compound Interest:

C.I.= Rs.7722.65 - Rs.6500

C.I.= Rs.1222.65

Thus,

C.I. is 1222.65

Hope it helps ☺️