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.
Answers
Answered by
9
Answer:
1. Compound interest after one year
= 10000 * 10/100
= 1000
2. Compound interest for 2 years
= 11000 * 10/100
= 1100
- 3. Sum of money required to clean the money
- debt= 11000 + 1100
= 12100 rs
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