Question

(11) Find the compound
interest if Principle = 2000 R:
Rate of interest = 5 pcpca,
Duration = 2 years.​

Answer 1

Answer :-

Given :-

• Principal = Rs. 2000
• Rate of interest = 5% p.c.p.a
• Time = 2 years

To Find :-

• Compound interest

Solution :-

We know that,

$\implies\sf A = P \left( 1 + \dfrac{R}{100}\right)^n$

Substituting the values in formula :-

$\implies\sf A = 2000 \times \left( 1 + \dfrac{5}{100}\right)^2$

$\implies\sf A = 2000 \times \left( 1 + \dfrac{1}{20}\right)^2$

$\implies\sf A = 2000 \times \left(\dfrac{21}{20}\right)^2$

$\implies\sf A = \not2\not0\not0 \: 0 \times \dfrac{21 \times 21}{\not{2}\not0\times 2\not0}$

$\implies\sf A = \dfrac{10 \times 21 \times 21}{2}$

$\implies\sf A = 5 \times 21 \times 21$

$\implies\sf A = 2205$

Now, we have amount and principal. We know that,

Compound interest = Amount - Principal

= 2205 - 2000

= 205

Compound interest = Rs. 205

Answer 2

A N S W E R :

• The Compound Interest is Rs. 205.

Given :

• Principal = 2000

• Rate = 5%

• Duration = 2 Years

To find :

• Find the Compound Interest ?

Solution :

As we know that,

Formula Used :

★ Compound Interest = P(1 + i)^t - P

So,

• P is the principal

• i is the interest rate in decimal

• t is the number of years

Substituting the values,

=> C.l = 2000(1 + 0.05)^2 - 2000

=> C.l = 2000(1.05)^2 - 2000

=> C.I = 2000 × 1.1025 - 2000

=> C.I = 2205 - 2000

=> C.l = 205

Hence,

• The Compound Interest is Rs. 205.