Question 7 Compound Interest Exercise 2.2 Next
Answer:
It is given that Principal (P) = ₹ 2500 Rate of interest (r) = 4% p.a. or 2% half-yearly Period (n) = 2 years or 4 half-years We know that SI = Prt/100 Substituting the values = (2500 × 4 × 2)/100 = ₹ 200 If compounded semi-annually \begin{aligned} &\mathrm{A}=\mathrm{P}(1+\mathrm{r} / 100)^{\mathrm{n}}\\ &\text { Substituting the values }\\ &=2500(1+2 / 100)^{4} \end{aligned} By further calculation = 2500 × 51/50 × 51/50 × 51/50 × 51/50 = ₹ 2706.08 We know that CI = A – P Substituting the values = 2706.08 – 2500 = ₹ 206.08 So the difference between CI and SI = 206.08 – 200 = ₹ 6.08
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What is the compound interest on rupees 2500 for 2 years at rate of interest 4% per annum
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