Question

Rahul invested₹7000 in shares for 2 years at the rate if 12% per annum Compounded annually. What is the compound interest that rahul gets after 2 years? ​

Answer 1

Answer:

Compound interest = 1780.8 Rupees

Step-by-step explanation:

• The amount invested by Rahul (P) = Rs 7000

He invested for 2 years.

• So, Time (n) = 2 years

Rate is given as 12% per annum.

• so, r = 12%

Since, we know the formula to find out the compound interest as;

• $A = P\left ( 1+\dfrac{r}{100} \right )^n$

Now, we put the value in above formula, we get.

• $A = P\left ( 1+\dfrac{12}{100} \right )^2$

               A = Rs 8780.8

After 2 years, Rahul will get this total amount. But, he invested Rs 7000.

Therefore, to find out the compound interest, we subtract the amount invested.

Hence, the compound interest = 8780.8 - 7000 = 1780.8 Rupees

Thus, after 2 years, the compound interest  is 1780.80.

Answer 2

ANSWER:

Your answer is  ₹ 1780.80

STEP BY STEP EXPLANATION:

principal (P) = ₹ 7,000

rate (R) = 12% per annum

time (T) = 2 years

interest 1 = P ˣ R ˣ T/100

               =  7,000 ˣ 12 ˣ 1/100

               = ₹ 840    

A = P + I

A = 7,000 + 840

A =  ₹ 7,840

now in second year principal = ₹ 7,840

interest 2 = P ˣ R ˣ T /100

                = 7,840 ˣ 12 ˣ 1/100

                =  ₹ 940.80

C.I. =  interest 1 + interest  2

C.I. = 840+ 940.80

C.I. = ₹ 1780.80

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