Check sibling questions

Example 11 - Find CI on Rs 12600 for 2 year at 10% compounded annually

Example 11 - Chapter 8 Class 8 Comparing Quantities - Part 2
Example 11 - Chapter 8 Class 8 Comparing Quantities - Part 3

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Transcript

Example 11 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 12 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.