Question

Find the compound interest on ₹6000
for 2 years, If the rates of interest
for the
first and second years are
5% and
10% per annum respectievely​

Answer 1

Given -

• Principal = ₹6000
• Rate of interest = 5% and 10%
• Time = 2 years

To find -

• Compund interest

Solution -

For 10% interest per annum -

Amount = t [1 + (R/2)/100]2n

A = 6000 [2 + (10/2)/100]2

A = 6000 [2 + 5/100]2

A = 6000 [2 + 0.05]2

A = 6000 [2.05]2

A = 6000 [4.1]

A = Rs. 24600

C.I = Amount – Present value

C.I = 24600 – 6000

C.I = Rs. 18600

For 5% per annum -

Amount = P[1 + R/100]2

Amount = 6000 [1 + 5 / 100]2

Amount = 6000 x 1.05 x 1.1

Amount = ₹6930

C.I = Amount - present value

C.I = 6930 - 6000

C.l = Rs. 930

$\therefore$ The C.I for 1st year is ₹18600 and for 2nd year ₹930

________________________________________

Answer 2

Step-by-step explanation:

Given -

• Principal = ₹6000
• Rate of interest = 5% and 10%
• Time = 2 years

To find -

• Compund interest

Solution -

• For 10% interest per annum -

Amount = t [1 + (R/2)/100]2n

A = 6000 [2 + (10/2)/100]2

A = 6000 [2 + 5/100]2

A = 6000 [2 + 0.05]2

A = 6000 [2.05]2

A = 6000 [4.1]

A = Rs. 24600

C.I = Amount – Present value

C.I = 24600 – 6000

C.I = Rs. 18600

For 5% per annum -

Amount = P[1 + R/100]2

Amount = 6000 [1 + 5 / 100]2

Amount = 6000 x 1.05 x 1.1

Amount = ₹6930

C.I = Amount - present value

C.I = 6930 - 6000

C.l = Rs. 930

$\therefore$ The C.I for 1st year is ₹18600 and for 2nd year ₹930

________________________________________