1. Find the formula and C. I on Rs 2500 for 2 years at 10% per annum.
2. Find the amount and C. I on Rs 40,000 for 3 years at 5 % per annum.
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1. Find the formula and C. I on Rs 2500 for 2 years at 10% per annum.
2. Find the amount and C. I on Rs 40,000 for 3 years at 5 % per annum.
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Answer:
Principal amount = P=2500
Duration/Time = n = 2 years
Rate of Interest Per annum= i = 10%
Required to find is A = compound Interest
we know That..
For compound Interest...
A=P(1+i)^n-P
substituting above information..
A = 2500(1+10/100)^2 -2500
A= 2500(1+0.1)^2 - 2500
A= 2500(1.1)^2 - 2500
A = 2500(1.21) - 2500
A= 3025 - 2500
A= 525
so the compound Interest= 525
compounded amount = Principal amount + compound interest
= 2500+525 = 3025