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Example 8 - Chapter 7 Class 8 Comparing Quantities

Last updated at July 21, 2023 by

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Example 8 Find CI on Rs 12600 for 2 years at 10% per annum compounded annually.Given, Principal (P) = 12600 Time = 2 Years Rate (R) = 10% per annum We use the formula A = P ("1 + " 𝒓/𝟏𝟎𝟎)^𝒏 where A = Amount after n years A = 12600 ("1 + " 𝟏𝟎/𝟏𝟎𝟎)^𝟐 = 12600 ("1 + " 1/10)^2 = 12600 ((10 + 1)/10)^2 = 12600 (𝟏𝟏/𝟏𝟎)^𝟐 = 12600 (11/10)^2 = 12600 × 121/100 = 126 × 121 = 15246 ∴ Amount after 2 years = Rs 15,246 Now, Amount = Principal + Interest 15246 = 12600 + Interest 15246 – 12600 = Interest 2646 = Interest Interest = 2646 ∴ Compound Interest = Rs 2,646

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Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 13 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.