Question

The compound interest on Rs1000 at 10% per annum for two years is​

Answer 1

Answer:

amount= rs 1210

interest = rs 210

Answer 2

First we will write,
Principal= ₹1000
Rate of interest= 10%
Time (n)= 2 years

Now,
We will use the formula
A=P(1+R/100)^n

After putting values
We have,
1000(1+10/100)^2
=1000(1+1/10)^2
=1000x11/10x11/10
=121x10
=1210
Therefore,
Compound interest
= A-P
=₹(1210-1000)
=₹210