#### What sum will amount to ₹ 28090 in two years at 6% per annum compound interest? Also find the compound interest.

**Solution:**

It is given that

Amount (A) = ₹ 28090

Rate (r) = 6% p.a.

Period (n) = 2 years

We know that

P = A ÷ (1 + r/100)^{n}

Substituting the values

= 28090 ÷ (1 + 6/100)^{2}

By further calculation

= 28090 ÷ (53/50)^{2}

So we get

= 28090 × 50/53 × 50/53

= ₹ 25000

Here

Amount of CI = A – P

Substituting the values

= 28090 – 25000

= ₹ 3090

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