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  • Compound interest on RS.50000 for 2 years at 10% per annum  when compounded yearly 

Compound interest on RS.50000 for 2 years at 10% per annum  when compounded yearly 

Answers (1)

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To calculate compound interest for ?50,000 at 10% per annum for 2 years, we use the following formula:

A=P(1+r100)t

Where:

A = Final amount

P = Principal amount (?50,000)

r = Rate of interest (10%)

t = Time (2 years)

Let's calculate:

A=50000×{1+10(100)}2

A=60500

Now, Compound Interest (CI) = A - P

CI=60500−50000=10500

Therefore, the compound interest for 2 years is ?10,500.

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