Question

Jaimin takes Rs. 10000 at 12% per year as rate of interest, for 2 years. How much interest he

has to pay at the end of two years?​

Answer 1

Step-by-step explanation:

The Meitei ethnic group represents around 53% of the population of Manipur state, followed by various Naga tribes at 24% and various Kuki-Zo tribes at 16%. The main language of the state is Meiteilon (also known as Manipuri).

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Answer 2

Solution :-

Here, P (Principal) = ₹. 10,000 ; R (Rate of Interest) = 12% p.a and n (Time) = 2 Years

Using the Formula $\red {\bold {A = P \Big ( 1 + \frac{R}{100} \Big )^n}}$, we get

$\begin {aligned} \bold {Amount\: after\: 2\: Years} & = Rs. \Bigg (10,000 \times \Big ( 1 + \frac{12}{100} \Big ) ^2\Bigg )\\\\\\& \Rightarrow Rs. \Bigg (10,000 \times \frac{28}{25} \times \frac{28}{25} \Bigg )\\\\\\& \Rightarrow \bold {Rs. 12,544} \end {aligned}$

Thus, Amount after 2 Years = ₹. 12,544

And, Compound Interest = ₹. (12,544 - 10,000) = ₹. 2,544