The compound interest on a principal of Rs 5000 at the rate of 20% for 2 years is Rs.___.

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Solution

Given:

P = Rs 5000, R = 20%, n = 2 years

$A = P {[1 + \frac{R}{100}]}^{n}$
$\Rightarrow A = 5000 {[1 + \frac{20}{100}]}^{2}$
= Rs.7200
CI = Rs. 7200 - Rs.5000 = Rs.2200

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The compound interest on a principal of Rs 5000 at the rate of 20% for 2 years is Rs.___.

Given: P = Rs 5000, R = 20%, n = 2 years A = P[1+R100]n ⇒A = 5000[1+20100]2 = Rs.7200 CI = Rs. 7200 - Rs.5000 = Rs.2200

Given:

P = Rs 5000, R = 20%, n = 2 years

$A = P {[1 + \frac{R}{100}]}^{n}$
$\Rightarrow A = 5000 {[1 + \frac{20}{100}]}^{2}$
= Rs.7200
CI = Rs. 7200 - Rs.5000 = Rs.2200