Question

The compound interest on Rs. 12600 for 2 years at 10% per annum compounded annually is
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Answer 1

Answer:

given

principal=12600

time = 2 yrs

rate =10%

• using the formula

A=p(1+r/100)ñ where Amount after n yrs

A= 12600(1+10%/100)²

12600(1+1/10)²

12600(10+1/10)²

12600(11/10)²

12600x121/100

126x121

15246

amount after 2 years is 15246

amount= principal +interest

15246=12600+interest

15246-12600= interest

2646=interest

compound interest is 2646