Question

Shanker takes a loan of 10,000 at a compound interest rate of 10% per annum (p.a.)

(i) Find the compound interest after one year.

(ii) Find the compound interest for 2 years.

(iii) Find the sum of money required to clear the debt at the end of 2 years.

(iv) Find the difference between the compound interest and the simple interest at the same
rate for 2 years.​

Answer 1

Answer:

1. Compound interest after one year

= 10000 * 10/100

= 1000

2. Compound interest for 2 years

= 11000 * 10/100

= 1100

1. 3. Sum of money required to clean the money
2. debt= 11000 + 1100

= 12100 rs

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