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The compound interest on ₹600 at 10 % p.a. for 2 years would be |
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Answer» AnswerGivenRate of interest = 10% per annumPrincipal for the first year = RS 6000Interest for the first year = Rs (6000 × 10 × 1) / 100= Rs 600Amount at the end of first year = Rs 6000 + Rs 600= Rs 6600Principal for the second year = Rs 6600Interest for the second year = Rs (6600 × 10 × 1) / 100= Rs 660Amount for the second year = Rs 6600 + Rs 660= Rs 7260Therefore, compound interest for 2 YEARS = FINAL amount – (original) Principal= Rs 7260 – Rs 6000We get,= Rs 1260I hope it helps you |
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