Question

Find compound interest on12600rupees for 2years at10% per annum compounded anually
​

Answer 1

₹2520

Explanation:

First, converting R percent to r a decimal

r = R/100 = 10%/100 = 0.1 per year,

then, solving our equation

I = 12600 × 0.1 × 2 = 2520

I = ₹ 2,520.00

The simple interest accumulated

on a principal of ₹ 12,600.00

at a rate of 10% per year

for 2 years is ₹ 2,520.00.