Given:
Principal = Rs. 1000
Time = 2 years
Rate of interest = 10%
Formula:
C.I = P × [(1 + r/100)n– 1]
See Also
Present Value (PV)Present Value - Econlibthe compound interest on 5000 at 10% per annum for 2 years is - Brainly.inCalculating the Future Value of a Single Amount (FV) | AccountingCoachHere,
P = Principal Amount
r = Rate of interest
n = Time in years
Calculation:
We know that -
See Also
The present value of $1,000 to be received in 5 years is ________ if the discount rate is 12.78%.C.I = P × [(1 + r/100)n– 1]
According to the question,
C.I = 1000× [(1 + 10/100)2– 1]
⇒C.I= 1000× [(1 + 1/10)2– 1]
⇒ C.I= 1000× [(11/10)2– 1]
⇒ C.I= 1000× [121/100– 1]
⇒ C.I= 1000× [(121– 100)/100]
⇒ C.I= 1000× [21/100]
⇒ C.I= 210
∴The InterestAmount will be Rs. 210.
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