Question

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

Answer 1

Given, P= Rs. 7500,R=4%,n=2 years
We know, Amount =A=P(1+
100
R
​
)
n

Therefore, amount = Rs [
7500×{
1+(
100
4
​

​
)
​
}
2

​
]= Rs. 8112
Compound Interest = Rs. (
8112−7500
​
)= Rs. 612