Question
Find the compound interest and the amount on Rs 4000 at
5% per annum for 2 years, compounded annually.Solution
Principal P = 4000 Rate R = 5% Time T = 2 years Amount A = P(1 + R/100)² = 4000 × (1 + 5/100)² = 4000 × (105/100)² = 4000 × (21/20)² = 4000 × (441/400) = 10 × 441 = 4410 Compound Interest (CI) = Amount − Principal = 4410 − 4000 = 410 Answers: Compound Interest = Rs 410 Amount = Rs 4410
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