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5) solutions :-We have,
Principle = p = ₹ 10,000
Time = t = 2 years
Rate = r = 8% p.a = 0.08
Amount = A = ?
Rate = r = ?
Find the Amount :-
A = p(1 + r)^t
= ₹ 10000(1 + 0.08)^2
= ₹ 10000(1.08)^2
= ₹ 10000 × 1.1664
= ₹ 11664
Find the Compound Interest :-
C.I = A - p
= ₹(11664 - 10000)
= ₹ 1664
Answer : Compound Interest = ₹ 1664
6) solutions :-
We have,
Principle = p = ₹ 12,000
Time = t = 2 years 6 months = 2.5 years
Rate = r = 14% p.a = 0.14
Amount = A = ?
Rate = r = ?
Find the Amount :-
A = p(1 + r)^t
= ₹ 12000(1 + 0.14)^2.5
= ₹ 12000(1.14)^2.5
= ₹ 12000 × 1.38
= ₹ 16651.12
Answer : Total money he has to refund = ₹ 16651.12