Question

Is raman borrow rs1000 from bank at the rate of 10percent. Annually what amount he returns after 1 year​

Answer 1

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Answer 2

Here, Principal P = Rs. 1000
R =10% per annum and n=2 years
∴ Amount after 2 years = P (1+
200
R
​
)
2n

= Rs. 1000×(1+
200
10
​
)
2×2
=Rs.1000×(1+
20
1
​
)
4
=Rs.1000×(
20
21
​
)
4

= Rs.1000×
20
21
​
×
20
21
​
×
20
21
​
×
20
21
​
=Rs.1215.50
Hence, compound interest = Amount - Principal
=Rs.1215.50−Rs.1000=