Question

Find the compound interest on Rs. 1000 for 2 years at the rate of 10% per annum. Also, find the amount at the end of the period.

Answer 1

Answer:

i=1000

r=10%

y=2

10×2

--------

1000

200

Answer 2

Answer:

Rs.210

Step-by-step explanation:

Given

Here, P = Rs. 1000 and R = 10% p.a.

=> the interest for the first year is P*R*T/100 = Rs.1000*10*1 /100 = Rs.100

The amount after the first year is Rs.1000+Rs.100 = Rs.1100

=> the principal for the second year is Rs.1100

=> the interest for the second year is P*R*T/100 = Rs.1100*10*1 /100 = Rs.110

=> the final amount is Rs.1100 + Rs110 = Rs.1210

Hence, compound interest = (final amount) - (original principal)

= Rs.1210 - Rs.1000 = Rs.210