Question

Find the compound interest on Rs 6500 for two years at 9% per annum.

Answer 1

Answer:

1222.65

Step-by-step explanation:

Given, P = 6500, Time = 2 years, R = 9%.

We know that A = P(1 + r/100)ⁿ

                           = 6500(1 + 9/100)²

                           = 6500(109/100)²

                           = 6500(1.09)²

                           = 7722.65.

We know that CI = A - P

                            = 7722.65 - 6500

                            = 1222.65.

Therefore,Compound interest= 1222.65.

Hope it helps!

Answer 2

Step-by-step explanation:

We have,Principal,

 P = Rs. 6500Rate,

R = 9% 

p.a.Time, n = 2 yrs

Amount, A = P[1 + R100]n               =6500 [1 + 9100]2              =6500 × 109100×109100= Rs 7722.65CI 

= A − P 

= 7722.65 − 6500

 = Rs 1222.65