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RD Sharma Solutions Class 8 Mathematics Solutions for Compound Interest Exercise 14.2 in Chapter 14 - Compound Interest
Prev
Meera borrowed a sum of Rs. 1000 from Sita for two years. If the rate of interestis 10% compounded annually, find the amount that Meera has to pay back.
Answer:
Given details are,
Principal (p) = Rs 1000
Rate (r) = 10 % per annum
Time (t) = 2 years
By using the formula,
A = P (1 + R/100)^n
= 1000 (1 + 10/100)^2
= 1000 (110/100)^2
= Rs 1210
∴ Amount is Rs 1210
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