Find the compound interest (in ₹) obtained on a sum of ₹1,900 at 5% per annum in 2 years, if the interest is compounded annually.
Find the compound interest (in ₹) obtained on a sum of ₹1,900 at 5% per annum in 2 years, if the interest is compounded annually.
यदि ब्याज वार्षिक रूप में संयोजित होता है, तो ₹1,900 की राशि पर 5% की वार्षिक दर से 2 वर्ष में प्राप्त होने वाला चक्रवृद्धि ब्याज (₹ में) ज्ञात कीजिए।
Detailed Solution & Logic
Correct Answer:
194.75
Principal = ₹1900
Rate = 5% per annum
Time = 2 years
Amount formula:
$A=P\left(1+\frac{R}{100}\right)^n$
$A=1900\left(1+\frac{5}{100}\right)^2$
$=1900(1.05)^2$
$=1900 \times 1.1025$
$=2094.75$
Compound Interest = Amount $-$ Principal
$=2094.75-1900$
$=194.75$
$\therefore$ Correct Answer: ₹194.75
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