Question

find the compound interest on rupees 2000
$p= 2000 \:3percent \: per \: annum \: for \: 2years$
at 3% per annum for 2 years(A=p×(1+r÷100)t)(CI=A-P)​

Answer 1

Answer:

Compound interest = Rs.121.80

Step-by-step explanation:

P = initial amount = Rs.2000

R = rate of interest per cent per year = 3

T = time period in years = 2

A = final amount at the end of T years

A = P(1 + R/100)^T

A = 2000*(1 + 3/100)^2

   = 2000*(1.03)^2

   = 2000*(1.0609)

Compound interest (CI) = A - P

CI = 2000*(1.0609) - 2000

    = 2000*(1.0609 - 1)

    = 2000*(0.0609)

    = 2*1000*(0.0609)

    = 2*(60.9)

     = 121.8

Compound interest earned = Rs.121.80