Question

Find the compound interest on Rs 3000 at 5% per annum for 2 years.
What will be the compound interest on Rs 4000 at 5% per annum in 2 years!​

Answer 1

Answer:

I) 3307.5 II) 4410

Step-by-step explanation:

I) Given,

Principal Amount (P)= ₹3000

Interest rate (r)= 5%

No. Of Years (n)= 2 Years

The Compound Interest is

= P (1+r/100)^n

= 3000 (1+5/100)^2

= 3000 (105/100)^2

= 3000 (21/20)^2

= 3000×21×21/20×20

= ₹3307.5

II)Given

Principal Amount (P) = ₹4000

Interest rate (r) = 5%

No. of Years (n) = 2

The Compound Interest is

= P(1+r/100)^n

= 4000(1+5/100)^2

= 4000(105/100)^2

= 4000(21/20)^2

= 4000×21×21/20×20

= ₹4410