Question

Find $CI$ on $Rs.12600$ for $2$ year at $10\%$ per annum compound annually.

Answer 1

Given that:

$P=Rs.12600,t=2year,r=10$%

$C.I.=P(1+\frac{r}{100}{)}^t$

$C.I.=12600(1+0.1{)}^2$

$C.I.=12600\times (1.01{)}^2$

$C.I.=Rs.12953.26$