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
Similar Practice Questions
A sum of money becomes \(\frac{7}{6}\) of itself in 3 years at a certain rate of simple interest. What is the rate per annum?
A sum of money becomes \(\frac{7}{6}\) of itself in 3 years at a certain rate...
What sum (in ₹) will earn a simple interest of ₹240
What sum (in ₹) will earn a simple interest of ₹240 in 4 years at...
The amount on a sum of ₹3,300 at 10%
The amount on a sum of ₹3,300 at 10% per annum compound interest, compounded annually,...
Find the simple interest (in₹)on ₹ 3000
Find the simple interest (in₹)on ₹ 3000 as a sum borrowed at 9% per year...
The difference between the compound
The difference between the compound interest, compounded annually and the simpleinterest if ₹17,700 is deposited...
Vijay has ₹1224 with him.
Vijay has ₹1224 with him. He divided it amongst his sons Ajay and Prakash and...
A sum amounts to ₹6,600 in 2 years and ₹7,200 in 4 years at simple interest. What is the rate of interest per annum?
A sum amounts to ₹6,600 in 2 years and ₹7,200 in 4 years at simple...