Question

Find the compound interest on Rs. 5000 for 2 years at the rate of 10p.c.p.a​

Answer 1

Refer the above attachment..

Answer 2

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Given :-

Principal = Rs.5000; Time period = 2 years and Rate = 10% per annum

Concept used :-

Compound interest = Amount - Principal

A = P × (1 + r/100)n

Detailed solution :-

A = P × (1 + r/100)n

⇒ A = 5000 × (1 + 10/100)2

⇒ A = 5000 × (11/10)²

⇒ A = 6050

Now, CI = A - P

⇒ CI = 6050 - 5000

= Rs. 1050

∴ Compound interest is Rs. 1050.