Question 137

What would be the compound interest obtained on an amount of Rs 1210 at the rate
of 6. p.c.p.a. after a year ?

Solution

Here the Principal amount is Rs 1210

Rate of Int. = 6% per annum

As we know that SI and CI is same for 1st year if principal amount and ROI is same so CI for 1 year = $$\frac{1210\times6\times1}{100}$$

CI for 1 year = Rs 72.6

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What would be the compound interest obtained on an amount of Rs 1210 at the rateof 6. p.c.p.a. after a year ?