Question

$<i><font face=Copper black size=4>$Find the amount and the compound interest on Rs 2500 for 2 years at 10% per annum , compounded annually.

Answer 1

$<b>$Given,

P = ₹ 2500

T = 2 years

R = 10% p.a.

Since compounded annually

A = P × (1 + R/100)^t

= ₹ 2500 × (1 + 10/100)²

= ₹ 2500 × 110/100 × 110/100

= ₹ 25 × 11 × 11

= ₹ 3025

CI = A - P

= ₹(3025 - 2500)

= ₹ 525


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