Question

what will be the compound interest on rs 7600 at the rate of 5% per annum for 2 years?​

Answer 1

Principal = ₹7600

Rate = 5 p.a.

Time = 2 years

Amount =

$p {(1 + \frac{r}{100} })^{t}$

$7600 {(1 + \frac{5}{100} })^{2}$

$7600 {( \frac{20 + 1}{20} })^{2}$

$7600 \times \frac{21}{20} \times \frac{21}{20}$

$= 8379$

CI = A - P

= 8379 - 7600

= ₹ 779

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