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If the total amount after 2 years is $1100 from a principal of $1000 at a compou

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Question: If the total amount after 2 years is $1100 from a principal of $1000 at a compound interest rate of 5%, what is the interest earned?

Options:

  1. $100
  2. $110
  3. $120
  4. $150

Correct Answer: $100

Solution: 

Interest Earned = Total Amount - Principal = 1100 - 1000 = 100.

If the total amount after 2 years is $1100 from a principal of $1000 at a compou

Practice Questions

Q1
If the total amount after 2 years is $1100 from a principal of $1000 at a compound interest rate of 5%, what is the interest earned?
  1. $100
  2. $110
  3. $120
  4. $150

Questions & Step-by-Step Solutions

If the total amount after 2 years is $1100 from a principal of $1000 at a compound interest rate of 5%, what is the interest earned?
  • Compound Interest – Understanding how compound interest works and how it affects the total amount over time.
  • Principal and Total Amount – Differentiating between the initial principal amount and the total amount after interest has been applied.
  • Interest Calculation – Calculating the interest earned by subtracting the principal from the total amount.
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