Question

the compound interest on rs 1000 at 10% per annum for 2 year is​

Answer 1

Dear Student,

◆ Answer -

Compound interest is 210 ₹.

● Explanation -

# Given -

P = 1000 ₹

r = 10 %

t = 2 year

# Solution -

Compound interest is calculated by -

Compound interest = P [(1+r)^t - 1]

Compound interest = 1000 [(1+0.1)^2 - 1]

Compound interest = 1000 × (1.21 - 1)

Compound interest = 210 ₹

Therefore, compound interest on given amount is 210 ₹.

Thanks dear. Hope this helps you...