Question

principal= 55931
Rate =8%
year=2
compound interest​

Answer 1

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Transcript

Given details are,

Rate = 10 % per annum

Compound Interest (CI) = Rs 210

Time (t) = 2 years

By using the formula,

Let P be ‘x’

CI = A – P

210 = P (1 + R/100) n – P

= P [(1 + R/100)n - 1]

= x [(1 + 10/100)2 – 1]

= x [(110/100)2 – 1]

210 = x ((1.1)2 – 1)

x = 210 / ((1.1)2 – 1)

= 210/0.21

= Rs 1000

∴ The required sum is Rs 1000

Answer 2

$Principal= 55,931$

$Rate =8 \: \%$

$T = 2 \: year$

$A= P (1 + \frac{R}{100} ) ^{T}$

$= 55,931(1 + \frac{8}{100} ) ^{2}$

$= 55,931( \frac{108}{100} ) ^{2}$

$= 55,931 \times \frac{108}{100} \times \frac{108}{100}$

$= \frac{652,379,184}{10,000}$

$= 65,237.91$

$CI = A-P$

$CI = 65,237.91 - 55,931$

$CI = 9,306.91$