Question

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Find compound interest annually :
a)P= 62500 R= 8 T= 2years ​

Answer 1

${\bold{\underline{\underline{Answer:}}}}$

${\bold{\therefore Amount=72,900\:rupees}}$

${\bold{\therefore Compound\:interest=10,400\:rupees}}$

${\bold{\underline{\underline{Step-by-step\:explanation:}}}}$

$\underline \bold{Given : } \\ \implies Principal(P) = 62,500 \: rupees \\ \\ \implies Rate(r) = 8 \%\\ \\ \implies Time(t) = 2 \: years \\ \\ \underline \bold{To \: Find: } \\ \implies Compound \: Interest = ?$

• According to given question :

$\bold{Using \: formula \: of \: Compound \: Interest : } \\ \implies A = P( 1 + \frac{r}{100} )^{t} \\ \\ \implies A= 62500 \times (1 + \frac{8}{100} )^{2} \\ \\ \implies A = 62500 \times( 1 + 0.08)^{2} \\ \\ \implies A = 62500 \times (1.08)^{2} \\ \\ \implies A = 62500 \times 1.1664 \\ \\ \implies A= 62500 \times \frac{11664}{1000} \\ \\ \implies A = \frac{729000000}{10000} \\ \\ \bold{\implies A = 72,900 \: rupees} \\ \\ \bold{For \: Compound \: Interest : } \\ \implies C.I= A-P\\ \\ \implies C.I= 72,900 - 62,500 \\ \\ \bold{\implies C.I= 10,400}$