The compound interest (in ₹) on ₹ 2000 at 5 % | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(C) Given: Principal $(P)$ = ₹ $2000$,Rate $(R)$ = $5 \%$ per annum,Time $(t)$ = $2$ years.The formula for compound interest $(CI)$ is:$CI = P \left[

Vedclass · Accepted Answer

$205$

Vedclass · Answer

(C) Given: Principal $(P)$ = ₹ $2000$,Rate $(R)$ = $5 \%$ per annum,Time $(t)$ = $2$ years.The formula for compound interest $(CI)$ is:$CI = P \left[ \left( 1 + \frac{R}{100} ight)^t - 1 ight]$Substituting the values:$CI = 2000 \left[ \left( 1 + \frac{5}{100} ight)^2 - 1 ight]$$CI = 2000 \left[ \left( \frac{105}{100} ight)^2 - 1 ight]$$CI = 2000 \left[ \left( \frac{21}{20} ight)^2 - 1 ight]$$CI = 2000 \left[ \frac{441}{400} - 1 ight]$$CI = 2000 \left[ \frac{441 - 400}{400} ight]$$CI = 2000 	imes \frac{41}{400}$$CI = 5 	imes 41 = ₹ 205$Therefore,the compound interest is ₹ $205$.

The compound interest (in ₹) on ₹ $2000$ at $5 \%$ per annum,compounded yearly,for $2$ years is

Similar Questions

The compound interest on ₹ $4000$ for $4$ years at $10 \%$ per annum will be (in ₹):

The difference between simple interest and compound interest compounded annually on a certain sum of money for $2$ years at $4 \%$ per annum is ₹ $1$. The sum (in ₹) is

Find the difference between $C.I.$ and $S.I.$ on $Rs. 15000$ at $3 \%$ per annum for $3$ years.

$A$ person takes a loan of ₹ $10,000$ at an interest rate of $10 \%$ compounded annually for a period of $4$ years. How much interest (in ₹) does he have to pay?

What is the rate of interest (in $\%$) if simple interest earned on a certain sum for the $3^{rd}$ year is $₹ 2,000$ and compound interest earned in $2$ years is $₹ 4,160$?

Vedclass Test Series

Exam Paper Generator

Online Exam Module