Question

find the compound interest on rupee 6000 for 2½ years at the rate of 10% p.a. compounded annually.​

Answer 1

Given :

• P = Rs 6000
• R = 10%
• n =2½years

To find :

• Compound Interest

formula used :

• The formula to find the compound interest compounded annually is given by

${ \underline{ \boxed{\bf{ \pink{A = P(1+\frac{R}{100} )^{n} }}}}} \: \: \bigstar$

$:\implies\sf\:A = 6000 \times \bigg(1+\frac{10}{100} \bigg)^{2} \times \bigg( {1 + \frac{5}{100} } \bigg) ^{1}$

$:\implies\sf\:A = 6000 \times \bigg( \frac{11}{10} \bigg)^2 \times \bigg( \frac{21}{20} \bigg)$

$:\implies\sf\:A = 6000 \bigg( \frac{121}{100} \bigg) \times \bigg( \frac{21}{20} \bigg)$

$:\implies\sf\:A =6 \times 121 \times 21$

$:\implies\sf\:A = Rs.15,246$

therefore,

• The C.I is (15,246 - 6000)

= ₹ 9246.

Answer 2

Information provided with us :

• There are Rs.6000 who is compounded annually for 2½ years at the rate of 10% p.a. .

What we have to calculate :

• Compound Interest on that sum of rupees

Using Formulas :

Amount:-

• A = P (1 + R/100)^n

Here,

• A is amount
• P is principal
• R is rate of interest
• n is number of years

Compound Interest:-

• C.I. = A - P

Here,

• C.I. is compound interest
• A is amount
• P is principal

Performing Calculations :

• Here we have principal that is Rs.600
• no. of years are 2 and 1/2 because there's an half year also.
• Rate of interest is 10%

Putting the required values :

=> A = 6000 × (1 + 10/100)² × (1 + 10/100 × 1/2)

=> A = 6000 × (1 + 10/100)² × (1 + 5/100)

=> A = 6000 × (1×100 + 10 / 100)² × (1 + 5/100)

=> A = 6000 × (100 + 10 / 100)² × (1 + 5/100)

=> A = 6000 × (110 / 100)² × (1 + 5/100)

=> A = 6000 × (11/10)² × (21/20)

=> A = 6000 × (11 × 11 / 10 × 10) × (21/20)

=> A = 6000 × (121 / 100) × (21/20)

=> A = 600 × (121/ 10) × (21/20)

=> A = 60 × (121/ 1) × (21/20)

=> A = 60 × 121 × (21/20)

=> A = 6 × 121 × (21/2)

=> A = 3 × 121 × 21

=> A = 121 × 63

=> A = 7623

Finding out compound interest :

• Here we got amount that is Rs.7623 and we already know that principal is Rs.6000.

Putting the values,

C.I. = 7623 - 600

C.I. = 1623