*Find the compound interest on Rs. 1000 for 2 years at 10% rate of interest compounded annually?*
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Answered by
6
Answer:
compound interest after 2yrs of 1000 Rs at the rate 10% per annum is 210 Rs. it is given that principal , P = 1000 Rs. = 210 Rs. hence, compound interest = 210 Rs.
Answered by
10
Here, Principal P = Rs. 1000
R =10% per annum and n=2 years
∴ Amount after 2 years = P (1+ 200/R ) 2n
= Rs. 1000×(1+ 200/10 ) 2×2
=Rs.1000×(1+ 20/21 )4
=Rs.1000×( 20/21 ) 4
= Rs.1000× 20/21 × 20/ 21 × 20/21× 20/21
=Rs.1215.50
Hence, compound interest = Amount - Principal
=Rs.1215.50−Rs.1000=Rs.215.50
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