What will be the compound intrest INRS on a sum of Rs 6000 for 2 years at the rate of 10% per annum 1260 1200 1380 1140?

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ML Aggarwal Solutions Class 8 Mathematics Solutions for Simple and Compound Interest Exercise 8.2 in Chapter 8 - Simple and Compound Interest

Question 1 Simple and Compound Interest Exercise 8.2

Calculate the compound interest on Rs 6000 at 10% per annum for two years.

Answer:

Given

Rate of interest = 10% per annum

Principal for the first year = Rs 6000

Interest for the first year = Rs (6000 × 10 × 1) / 100

= Rs 600

Amount at the end of first year = Rs 6000 + Rs 600

= Rs 6600

Principal for the second year = Rs 6600

Interest for the second year = Rs (6600 × 10 × 1) / 100

= Rs 660

Amount for the second year = Rs 6600 + Rs 660

= Rs 7260

Therefore, compound interest for 2 years = final amount – (original) Principal

= Rs 7260 – Rs 6000

We get,

= Rs 1260

Video transcript

"hello everybody welcome to lido learning channel my name is rajna chaudhary and we have to solve the question we have to calculate the compound interest on rupees 6000 at 10 per annum for two years so we are given that rate is 10 percent principal is rupees 6000 and time is 2 years so compound interest is interest over interest so we calculate it annually so we will calculate the interest for first year then we will use we will use that amount to calculate interest for the next year so let's find out so interest for first year would be equal to principal into rate into time upon 100 so 6000 multiplied by 10 multiplied by 1 so we have put time as 1 because we are calculating it annually so upon 100 and after further calculation we have 600 now amount for the first year is principal plus interest that means 6000 plus 600 that is 66 double zero now we will use this amount as the interest for the next year because uh next year because that is the compound interest that next interest is charged on the first year's amount so in this case for second year for second year our principal is six six double zero uh rate is ten percent and time is one year now let's find out interest so p into r into t upon hundred the same way same formula let's put the values so we have here 660 as the interest now let's find out amount amount is principal plus interest so principal is six six double zero and interest is six six zero so after adding we would have seven two six zero so this is the amount she has to pay but we do have to find the compound interest so the compound interest would be equal to amount minus principle so this is the final amount 7 2 6 0 and the original principle so original principle that means that she has taken as a principle so after the subtraction we would have rupees one two six zero so this is the final compound address that she has to pay after two years so this is all for the video i hope you understand see you in my next video don't forget to like share and subscribe the channel thank you for watching "

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Solution

The correct option is BRs 1260: Given, principal (P) = Rs 6000, rate (R) = 10% and n = 2 yearsWe know that,A=P(1+R100)n=6000(1+10100)2=6000(1+110)2=6000(1110)2 =6000× 1110 × 1110= Rs 7260Compound Interest = Amount − Principal= 7260 − 6000= 1260Hence, the compound interest is Rs 1260.

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