Question

the compound interest on ₹ 1000 at 10 % p.a for 2 years is

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Answer 1

Answer:

compound interest after 2yrs of 1000 Rs at the rate 10% per annum is 210 Rs. it is given that principal , P = 1000 Rs. = 210 Rs. hence, compound interest = 210 Rs.

Answer 2

Answer:

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Step-by-step explanation:

compound interest after 2yrs of 1000 Rs at the rate 10% per annum is 210 Rs.

it is given that principal , P = 1000 Rs.

rate of interest , r = 10% per annum

time duration, n = 2 yrs

using formula, C.I = P[(1 + r/100)ⁿ - 1]

= 1000[(1 + 10/100)² - 1]

= 1000[(1 + 1/10)² - 1]

= 1000[(1 + 0.1)² - 1]

= 1000[(1.1)² - 1]

= 1000[1.21 - 1]

= 1000 × 0.21

= 210 Rs.

∴Hence, compound interest = 210 Rs.