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Find the compound amount and compound interest of principal Rs 10000 for 2 years at the rate of 6% p.a without using formula.

Find the compound amount and compound interest of principal Rs 10000 for 2 years at the rate of 6% p.a without using formula.

Grade:10

1 Answers

Arun
25763 Points
one year ago
Dear student
 
for 1st year 10000* 6/100 = 600 ₹
 
now for second year
 
10600 * 6/100 = 636 ₹
 
hence compound interest = 600 + 636 = 1236 ₹
compound money = 1000 + 1236 = 2236 ₹

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