Question

Find the compound interest compounded annually on rupees 2700 rate 6 ⅔% per annum and time is 2 years​

Answer 1

Answer:

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answer = CI = 3108 RUPEES

Step-by-step explanation:

i am doing the method in which u find the simple interest of first year then second year.

SI FOR 1ST YEAR= P X R X T / 100

SI = 2700 X 20 X 2 / 3 X 100   ( RATE OF INTEREST IS 20 / 3)

SI = 108000/300

SI = 360

SI FOR SECOND YEAR =

P = 2700 + 360= 3060

SI = 3060 X 20 X 2 / 300

SI= 122400 / 300

SI = 408

COMPOUND INTEREST (CI) = PRINCIPLE + SI OF 2ND YEAR

CI = 2700 + 408

CI = 3108 RUPEES

or u can solve be the method

CI = amount - principle

Amount= principle x (change in ratio) raised to time

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