Question

find the compound intrest on ₹ 12260 for 2 year at 10percent per annum compound annually​

Answer 1

Answer:

Compound interest =

$p \times (1 + \frac{r}{100} ) {}^{t} - p$

where p = principal amount, r = Rate , t = Time.

now,

Compound interest =

$12260 \times (1 + \frac{10}{100} ) {}^{2} - 12260 =$

$12260 \times \frac{11}{10} \times \frac{11}{10} - 12260 =$

$14834.60 - 12260 = 2574.60 \: ans.$