Question

the compound interest on rs.12600 for 2 years at -----------------per annum compounded anually is rs.2646.

Answer 1

hello Frnd

Here is your answer


Given as ...
Principal Amount = 12,600
Time = 2 yrs
Compound Interest = 2646


Since Rate is not given, let it's as = R

As we know that

Compound Interest = Amount - Principal

2646 = Amount - 12600
Amount = 12600 + 2646
= 15246


Also,

$amount \: = p( {1 + \frac{r}{100} )}^{n} \\ 15246 = 12600(1 + \frac{r}{100} )^{2} \\ 1.12 = (1 + \frac{r}{100} )^{2} \\ 1.05 = 1 + \frac{r}{100} \\ 0.05 = \frac{r}{100} \\ 5 = r$
Hence Rate of Interest = 5%



hope it helps
jerri