Question

find the compound interest on rupees 10000 at a rate of 8 pcpa for 2 years​

Answer 1

Given :

• Principal (P) = Rs 10000
• Rate (R) = 8%
• Time (n) = 2 years

To Find :

• Compound interest

Formulas :

• A = P [1 + R / 100]^n
• CI = A - P

where ,

• P denotes Principal
• R denotes Rate
• n denotes Time
• A denotes Amount
• CI denotes Compound Interest

Solution :

⟼ Amount = P [1 + R / 100]^n

⟼ Amount = 10000 [1 + 8 / 100]²

⟼ Amount = 10000 [108 / 100]²

⟼ Amount = 10000 × 108/100 × 108/100

⟼ Amount = 1 × 108 × 108

⟼ Amount = Rs 11,664

And,

⟼ CI = Amount - Principal

⟼ CI = 11,664 - 10000

⟼ Compound Interest = Rs 1664

Thus Compound Interest is Rs 1664

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Answer 2

★ Given :

• Principal = Rs. 10000

• Rate = 8%

• Time = 2 years

★ To Find :

• Compound interest

★ Solution :

• In the question Principal, Rate and Time is given and We need to find The compound interest.

• To find The Compound interest Firstly we need to find the amount And then compound interest By using the formula :

✰ Amount = P ( 1 + R/100)ⁿ

✰ C.I = Amount - Principal

______________

Let's Find out...!

Amount = P (1 + R/100)ⁿ

➤ 10000 (1 + 8/100)²

➤ 10000 (108/100)²

➤ 10000 × 108/100 × 108/100

➤ 108 × 108

➤ Rs 11664

_______________

Then,

C.I = Amount - Principal

➤ 11664 - 10000

➤ Rs 1664

∴ The Compound interest is Rs 1664.

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