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Example 4. Find the amount and the compound interest, on a sun of 2500 for two years at the
rate of 12% per annum compounded annually.
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Answer:
We know, for compound interest A=P{1+
100
R
}
T
Here P=2500,R=12,T=2
A=2500{1+
100
12
}
2
A=2500{
100
112
}{
100
112
}=3136
As per the question,
A paid Rs. 2936 and watch for settlement.
Therefore cost of watch =3136−2936= Rs. 200
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