Question

Find the compound interest on rupees 6400 at 61/4% p.a. for 2 years .
​

Answer 1

⇒  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