Find the compound interest at the rate of 10% per annum for two years on that principal which in two years at the rate of 10% per annum given Rs. 200 as simple interest.
Given,
Rate of simple interest = 10%
Time = 2 years
Simple interest = RS.200
So,
=
= 200 =
=
Rate of compound interest = 10%
Time = 2years
= Compound interest =
= 1000