Find the amount and the compound interest on Rs 3000 for 2 years

Question:

Find the amount and the compound interest on Rs 3000 for 2 years at 10% per annum.

Solution:

Here, $A=P \times\left(1+\frac{R}{100}\right)^{\mathrm{n}}$

$=$ Rs. $3000 \times\left(1+\frac{10}{100}\right)^{2}$

$=$ Rs. $3000 \times\left(\frac{110}{100}\right)^{2}$

$=$ Rs. $3000 \times\left(\frac{11}{10}\right) \times\left(\frac{11}{10}\right)$

$=$ Rs. $(30 \times 11 \times 11)$

$=$ Rs. 3630

$\therefore C I=A-P=$ Rs. $(3630-3000)=$ Rs. 630

Hence, the amount is Rs. 3630 and the CI is Rs. 630 .

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