Question

Find the compound interest on rs 6400 for 2 years,compunded annually at 7 1/2 percent per annum​

Answer 1

Answer:

⇒ P=Rs.6400,n=2years,R=

2

15

%

⇒ A=P(1+

100

R

)

n

⇒ A=6400(1+

2×100

15

)

2

⇒ A=6400×

200

215

×

200

215

⇒ A=Rs.7,396

⇒ Compoundinterest=A−P

⇒ CompoundInterest=Rs.7,396−Rs.6,400=Rs.996

Answer 2

⇒ P=Rs.6400,n=2years,R=

2

15

​

%

⇒ A=P(1+

100

R

​

)

n

⇒ A=6400(1+

2×100

15

​

)

2

⇒ A=6400×

200

215

​

×

200

215

​

⇒ A=Rs.7,396

⇒ Compoundinterest=A−P

⇒ CompoundInterest=Rs.7,396−Rs.6,400=Rs.996