Question

Mahesh deposited RS 1000 in a bank for one year at an interest of

10 p.c.p.a. How much interest will he get at the end of year?​

Answer 1

Given: Compound Interest on principal is 1000 rupees for one year time is given and rate of interest is 10% per annum.

To Find:We are said to find compound interest at the end of the year.

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According to the question:

• Principal is 1000 rupees for one year time with 10% rate per annum

Therefore,

C.I = P(1+r/100)^T-1

where....

• C.I = Compound Interest
• P= Principal
• T = Time
• R = Rate

Now we have to substitute the values which we are given with

•C.I=1000(1+10/100)^1 -1

•C.I=1000(11/10 -1)

•C.I=1000 × 1/10

•C.I=100 rupees

$\therefore$

Hence, Compound Interest is 100 rupees at the end of the year.

Answer 2

Given:-

• Mahesh deposited Rs.1000 in a bank for one year at an interest of 10% per annum.

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To Find:-

• Compound interest at the end of the year.

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Solution:-

★ In this question we have given that Mahesh deposited Rs.1000 in a bank for one year at an interest of 10% per annum. We have to find out the compound interest at the end of the year. Let's do it.

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According to the question,

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We know that,

• C.I = P(1 + r/100)ᵗ - 1

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⇢ C.I = P(1 + r/100)ᵗ - 1

⇢ C.I = 1000(1 + 10/100)¹ - 1

⇢ C.I = 1000(11/10 -1)

⇢ C.I = 1000 × 1/10

⇢ C.I = Rs.100

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Hence,

• The compound Interest at the end of the year is Rs.100.