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Question 42 The simple interest at 10% pa for 2 yearson a certain principal is Rs. 800. Find thecompound interest on the same amountat the same rate of interest for the sameperiodRs 4,840R 800RoRO BAORS4800 |
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Answer» Compound Interest = Rs 840Step-by-step EXPLANATION:Given that:Simple interest = Rs 800Rate of interest = 10% p.a.Time = 2 yearsFormula for Simple Interest:S.I. = (p × r × t)/100Where,★ S.I. = Simple Interest ★ p = Principal ★ r = Rate of interest ★ t = Time ★ A = Amount Let's FIND the principal: 800 = (p × 10 × 2)/100➤ 20p = 800 × 100➤ p = 80000/20➤ p = 4000∴ Principal = Rs 4000Now, Find the compound interest on the same amount at the same rate of interest for the same period. Formula to find Compound Interest:C.I. = A - pWhere, C.I. = Compound Interest So, firstly we should find Amount:A = p(1 + r × 0.01)ᵗFinding the amount: A = 4000(1 + 10 × 0.01)²➤ A = 4000(1 + 0.1)²➤ A = 4000 × 1.1 × 1.1➤ A = 4840∴ Amount = Rs 4840It's the time to find C.I.: C.I. = A - p➤ C.I. = 4840 - 4000➤ C.I. = 840∴ Compound Interest = Rs 840 |
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