Question

Find the compound interest on rs. 600 for 2 years at 5% p.A compounded annually.

Answer 1

Answer:

661.5 rupees

Explanation:

600*(1+5/100)^2

Answer 2

Answer:61.5 is answer ( This short trick )

for two years 1 2

si is same 30 30

1.5

Now total ci = 30+30+1.5 = 61.5

Explanation:

Reference : (600×5)/100= 30

:(30×5)/100= 1.5

Now explanation by formula :

we know that

CI = [(Principal (1+ rate/100)^time) )- principal]

= [(600(1+5/100)^2)) - 600]

= 61.5 ( answer)