Question

Rupees 6000 for 2 years at 9% per annum compounded annually?



Answer

Principal (P) =6000
Rate of the interest (R) = 9%
Time of the interest (N) = 2 years

Amount = P( 1+R/100)*n
Amount = 6000 (1+9/100)*2
Amount = 6000 (1.09)*2
Amount = 6000 (1.09×1.09)
Amount = 6000× 1.1881
Amount = Rupees 7128.60

Compounded Interest = Amount - Principal

C.I = 7128.6- 6000.0
C.I = 1128.6​

Answer 1

Compounded interest for Rs. 6000 for 2 years at 9% per annum (compounded annually) is Rs. 1128.60

Step-by-step explanation:

Given,

• Principal (P) = Rs. 6000
• Rate of compound interest (r) = 9% per annum
• Time of interest (n) = 2 years

Then the amount accumulated in 2 years is

$\quad P(1+\dfrac{r}{100})^{n}$

= Rs. $6000(1+\dfrac{9}{100})^{2}$

= Rs. $6000(1+0.09)^{2}$

= Rs. $6000(1.09)^{2}$

= Rs. 6000 (1.09 × 1.09)

= Rs. 6000 × 1.1881

= Rs. 7128.60

So, Compound interest

= Amount - Principal

= Rs. (7128.60 - 6000)

= Rs. 1128.60