The compound interest on Rs. 10000 at 4% per annum for two years compounded annually is A. Rs.1000 B. Rs. 816 C. Rs. 6

Question

The compound interest on Rs. 10000 at 4% per annum for two years compounded annually is

A. Rs.1000
B. Rs. 816
C. Rs. 628
D. Rs. 681

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Valentina 4 weeks 2021-08-14T20:55:15+00:00 2 Answers 0 views 0

Answers ( )

    0
    2021-08-14T20:56:43+00:00

    10,000 in 2 years at 4% per annum, the interest being compounded half-yearly. Explanation: Principal = Rs. 10000; Rate = 2% per half-year; Time = 2 years = 4 half-years.

    0
    2021-08-14T20:56:45+00:00

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    Given :

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    • Principal = 10000
    • Rate = 4% p.a.
    • Time = 2 years

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    To Find:

    ⠀⠀⠀⠀⠀⠀⠀⠀

    • Compound Interest

    ⠀⠀⠀⠀⠀⠀⠀⠀

    Formula :

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     \bf \large \: p[(1 +  \frac{r}{100} ) {}^{n}  - 1]

    P = initial principal balance

    r = interest rate

    n = number of times interest applied per time period

    n = number of times interest applied per time periodt = number of time periods elapsed

    ⠀⠀⠀⠀⠀⠀⠀⠀

    Solution :

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    P = 10000

    R = 4% p.a.

    N = 2 years

     \bf \: C.I. = \: p[(1 +  \frac{r}{100} ) {}^{n}  - 1]

     \bf \: C.I. = 10000[(1 +  \frac{4}{100} ) {}^{2}  - 1]

     \bf \: C.I. = 10000[(\frac{4 + 100}{100} ) {}^{2}  - 1]

     \bf \: C.I. = 10000[(\frac{104}{100} ) {}^{2}  - 1]

     \bf \: C.I. = 10000[\frac{10816}{10000}    - 1]

     \bf \: C.I. = 10000[\frac{10816 - 10000}{10000} ]

     \bf \: C.I. = 10000[\frac{816}{10000} ]

     \bf \: C.I. = 10000 \times \frac{816}{10000}

     \bf \: C.I. = 816

    Therefore C.I = 816

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