Question

Find the compound interest on rs.600/- for 2 years at 12 per annum

Answer 1

c.i=600((1+12/100)²-1)
=600*3*53/625
=(24*3*53)/25
=152.64..............(ans)

Answer 2

Answer:

The interest is Rs 152.64.

Step-by-step explanation:

Formula

$Amount = P(1 + r)^{t}$

Amount = Principle + Interest

Where P is the  principle , r is the rate of interest in the decimal form and t is the time in years.

As given

Rs.600/- for 2 years at 12% per annum .

P = 600

t = 2 years

12% is written in the decimal form

$= \frac{12}{100}$

= 0.12

r = 0.12

Put all the values in the formula

$Amount = 600(1 + 0.12)^{2}$

$Amount = 600(1.12)^{2}$

Amount = 600 × 1.2544

Amount = Rs 752.64

Thus

752.64=600 + Interest

Interest = 752.64 - 600

Interest = Rs 152.64

Therefore the interest is Rs 152.64 .