Find the amount and the compounded interest on $R s . 4500$ for $2 y e a r s$ at $10 %$ per annum compounded annually.

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Solution

Amount (Compound Interest with Principle) is $: A = P {(1 + r)}^{n}$

Here, $P = 4500 r a t e = r = 10 % = \frac{10}{100} n = n o o f y e a r s = 2 y e a r s$

Now, $A = 4500 {(1 + \frac{10}{100})}^{2} = 4500 (1 + 0.1)^{2} = 4500 (1.1)^{2} = 5445$

So,Compound interest $= C I = A - P = 5445 - 4500 = 945$

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