Question

14. Calculate the amount
and the compound intrest
a sum of
1000 at 10%
p.a . compounded annually for
3 years​

Answer 1

Answer:

Here, P= 1000, r=10% per annum

and n=18 months =1218​ years =23​ years =121​ years

∴ Amount after 18 months =P[1+21​(100r​)]2n

                                  =1000[1+21​(10010​)]2×23​

                                  =1000(1+20010​)3

                                  =1000(2021​)3

                                  =1000×2021​×2021​×2021​

                                  = 1157.625

                                  = 1157.63

C.I. =A−P

     =1157.63−1000

     = 157.63

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Answer 2

Answer:

Here, Principal P = Rs.1000

R = 10% per annum and n = 2 years

Therefore, Amount after 2 years

= P ( 1 + R/200 )2n

= Rs.1000 × ( 1 + 10/200 )2×2

= Rs.1000 × ( 1 + 20 )4

= Rs.1000 × ( 21 / 20 )4

= Rs.1000 × 21/20 × 21/20 × 21/20 × 21/20

= Rs.1215.50

Hence, Compound Interest = Amount - Pricipal

Rs.215.50 = 1215.50 - 1000