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
Yogesh invested a certain amount of money in HDFC at an annual interest rate of 4%. If after 2 years, he receives ₹229.5 as compound interest compounded annually, what would be the corresponding simple interest (in ₹)?
Yogesh invested a certain amount of money in HDFC at an annual interest rate of...
Rodney has two grandsons Amit and Gopal. 11 year old Amit gets some money from Rodney’s wealth and 12 year old Gopal gets rest of the money.
Rodney has two grandsons Amit and Gopal. 11 year old Amit gets some money from...
Sapna invested ₹20,900 on simple interest, partly at 9% per annum and partly at 13% per annum. If she earns equal interests from the two investments after 3 years, then find the sum invested at 9% per annum (in ₹).
Sapna invested ₹20,900 on simple interest, partly at 9% per annum and partly at 13%...
The simple interest on a principal amount (in ₹) is ₹824
The simple interest on a principal amount (in ₹) is ₹824 for a period of...
Sharad invested two equal amounts for 6 years and 3 years
Sharad invested two equal amounts for 6 years and 3 years at the rate of...
Find the simple interest (in₹) on ₹3500
Find the simple interest (in₹) on ₹3500 as a sum borrowed at 7% per year...
A certain sum of money is given at a certain rate of simple interest for 6 years.
A certain sum of money is given at a certain rate of simple interest for...