What will be the compound interest on Rs 14,000 for 2 years at the rate of 10 % per annum compound annually?

Rs. 2,940

Principal =    Rs 14000

Time   =        2 year

Rate   =       10%

Rate   =  \(\frac{1}{10}\)

                 Priincipal   :  AMOUNT

                10            :      11

                10            :       11     

               100            :       121   

Principal after two year is Rs 100 and amount become 121 Rs.

Compound  Interest = Amount -  Principal 

                              =  121 - 100  =21 Rs

ATQ

100 Parts = 14000

1 part =   140

21 part = Rs 21× 140

            = Rs 2940