Question

what is the difference between amount for 2 years and 3 years for Rs. 500 at 10% compound interst?​

Answer 1

S.I. = 500

r = 5%

t = 2 years

Before finding C.I. we have to find the sum or principal;

Apply formula; Principal = Apti Compound interest37

Principal = Apti Compound interest38= Rs. 5000

Now we have to find the Amount;

Apply formula; Amount =Apti Compound interest39

Amount = 5000 Apti Compound interest

Apti Compound interest

= 5000 * 1.05 * 1.05 = Rs. 5512.5

C.I. = Amount - Principal

C.I. = 5512.5 - 5000 = Rs. 512.5