Question

find the compound interest on Rs 6400 for 2 years compounded annually at 7 1/2% per annum

Answer 1

Step-by-step explanation:

Solution :

A=Rs.6400×(1+15100)2

=6400(215200)2

=6400×4340×4340

=> Rs.7396

CI=A−P

=7396−6400

=Rs.996

Answer : 996

Answer 2

Answer:

The interest is 996 rupees.

Step-by-step explanation:

Here,

Principal amount, P = 6400 rupees,

Annual rate, r = $7\frac{1}{2}\%$ = 7.5%,

Time, t = 2 years

Thus, the amount of compound interest,

$I=P(1+\frac{r}{100})^3-P$

$=6400(1+\frac{7.5}{100})^2-6400$

$=6400(1+0.075)^2-6400$

$=6400(1.075)^2-6400$

$=7396-6400$

= 996 rupees,

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