Find the compound interest on Rs. 2000 at the rate of 10% per annum for 2 years.
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Find the compound interest on Rs. 2000 at the rate of 10% per annum for 2 years.
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Solution-

 Here, $P=$ Rs. $2000, R=10 \%$

t=2 years, C.I= ?

$\therefore \quad$ C.I. $=P \times\left\{\left(1+\frac{R}{100}\right)^{t}-1\right\}$

$=2000 \times\left\{\left(1+\frac{10}{100}\right)^{2}-1\right\}$

$=2000 \times\left\{\frac{121-100}{100}\right\}$

$=2000 \times \frac{21}{100}$

$=\mathrm{Rs}, 420$ : Ans.

Therefore, C.I is Rs.420

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