Question

The simple interest on a certain sum of money at 8% p.a. for 2 years is Rs 2160. If the interest is compounded annually.Find the compound interest.





guys plzzzzzzz answer bata do​

Answer 1

Solution:-

Let us assume that Principal = ₹100x

For I year:

Principal (P) = ₹100x

Rate (R) = 8 % p.a

Time (T) = 1 year

Interest (I) = $\dfrac{P\times R\times T}{100}$

= $\dfrac{100x\times 8\times 1}{100}$

= ₹8x

Amount = P + I

= 100x + 8x

= ₹108x

For II year:

Principal = ₹108x

Rate = 8% p.a.

Time = 1 year

I = $\dfrac{108x\times 8\times 1}{100}$

= $\dfrac{216}{25}$

= ₹8.64x

According to Question:-

8.64x = 2160

⟹ x = $\dfrac{2160}{8.64}$

⟹ x = $\cancel\dfrac{216000}{864}$

⟹ x = ₹250

So, Sum of Money (P) = ₹100x

= 100 × 250

= ₹25,000

Compound Interest = ₹116.64x - ₹100x

= ₹29,160 - ₹25,000

= ₹4,160

∴ Compound Interest = ₹4,160

Answer 2

Answer:

Let us assume that Principal = ₹100x

For I year:

Principal (P) = ₹100x

Rate (R) = 8 % p.a

Time (T) = 1 year

Interest (I) = \dfrac{P\times R\times T}{100}100P×R×T

= \dfrac{100x\times 8\times 1}{100}100100x×8×1

= ₹8x

Amount = P + I

= 100x + 8x

= ₹108x

For II year:

Principal = ₹108x

Rate = 8% p.a.

Time = 1 year

I = \dfrac{108x\times 8\times 1}{100}100108x×8×1

= \dfrac{216}{25}25216

= ₹8.64x

According to Question:-

8.64x = 2160

⟹ x = \dfrac{2160}{8.64}8.642160

⟹ x = \cancel\dfrac{216000}{864}864216000

⟹ x = ₹250

So, Sum of Money (P) = ₹100x

= 100 × 250

= ₹25,000

Compound Interest = ₹116.64x - ₹100x

= ₹29,160 - ₹25,000

= ₹4,160

∴ Compound Interest = ₹4,160