Example 8 - Chapter 7 Class 8 Comparing Quantities

Last updated at Dec. 16, 2024 by

Example 8 - Find CI on Rs 12600 for 2 year at 10% compounded annually - Examples

part 2 - Example 8 - Examples - Serial order wise - Chapter 7 Class 8 Comparing Quantities
part 3 - Example 8 - Examples - Serial order wise - Chapter 7 Class 8 Comparing Quantities

Remove Ads

Transcript

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

Davneet Singh's photo - Co-founder, Teachoo

Made by

Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science and Computer Science at Teachoo