1.

10. Calculate the amount and thecompound interest on Rs. 12,000 in 2years at 10% per year.(3 Points)​

Answer»

Solution :-

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→ Principal = P = Rs.12,000

→ Rate = R = 10% per annum.

→ Time = T = 2 years.

Using Compound interest FORMULA for Amount :-

  • A = P[ 1 + (R/100)]^T

we get :-

→ A = 12000[ 1 + (10/100)]²

→ A = 12000[ 1 + 1/10]²

→ A = 12000(11/10)²

→ A = 12000 * (121/100)

→ A = Rs.14,520 (ANS.)

Therefore,

→ Compound interest = Amount - Principal

→ CI = 14520 - 12000

→ CI = Rs.2,520 (Ans.)

Hence, Amount is Rs.14,520 and Compound interest is Rs.2,520 .



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