Question

The compount interest at 10% on Rs. 40,000 for 2 years is Rs.?​

Answer 1

Question :

Find the compound interest and amount on :

Find the compound interest and amount on : (i) Rs 40,000 for 2 years at the interest rate of 8% per annum.

Find the compound interest and amount on : (i) Rs 40,000 for 2 years at the interest rate of 8% per annum.(ii) Rs 4,800 for 2 years at the interest rate of 10% per annum.

Solution :

Substituting the required values and solving :

Part 1 :

A = Rs. 40000

T = 2 years.

R = 8 % per annum .

Substituting the above information in the formula,

We get :

A = 46656

C.I = A - P = 6655

Part 2 :

A = Rs. 4800

T = 2 years.

R = 10 % per annum .

Substituting the above information in the formula,

We get :

A = 5808

C.I = A - P = 1008

__________

Solution :

C.I _(1) = Rs. 6655

C.I._(2) = Rs. 1008.

Answer 2

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★ Given :

Principal = Rs. 40000

Rate of interest = 10 %

Number of years = 2

★ To find :

Compound interest

★ Method :

Amount = P(1+R/100)^N

Compound interest = 40000 (1+10/100)^2

Amount = 40000 × 110/100 × 110/100

Amount = 48,400

Compound interest = Amount - Principal

Compound interest = 48400- 40000

Compound interest = 8400

★ Answer :

Compound interest will be Rs. 8400

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