Question

What will be the compound interest on a sum of rs 6000 for 2 yrs at the rate of 12%

Answer 1

Heya ✋

Let see your answer !!!

Given that

P = ₹6,000

R = 12 % p.a.

T = 2 years

Solution

When the interest is compounded annually

C.I. = P{(1+R/100)^n - 1}

= 6,000{(1+12/100)^2 - 1}

= 6,000{(100+12/100)^2 - 1}

= 6,000{(112/100)^2 - 1}

= 6,000{(28/25)^2 - 1}

= 6,000{784/625 - 1}

= 6,000{784 - 625/625}

= 6,000 × 159/625

= ₹1,526.40




Thanks :))))

Answer 2

Hi ,

Amount ( A ) = Rs 6000

rate of interest ( r ) = 12%

Time ( t ) = 2 years

number of times interest paid ( n ) = 2

P ( 1 + r/100 )^n = A

P ( 1 + 12/100 )² = 6000

P ( 112/100 )² = 6000

P = ( 6000 × 100 × 100 )/ ( 112 × 112 )

P = Rs 4783.16

compound interest ( C.I ) = A - P


C.I = 6000 - 4783.16

= Rs 1216.84

I hope this helps you.

: )