Question

16000 is invested at 5% compound interest compounded per annum. find the amount in 4 years.(without using formula).​

Answer 1

Step-by-step explanation:

without formula

5% of 16000 =800

in first year, 16000+800 =16800

5% of 16800 = 840

16800 + 840

in second year, 17640

in third year,

5% of 17640 = 882

17640 + 882= 18522

In fourth year,

5% of 18522=926.1

18522+ 926.1 = 19448.1

total amount = 16800+17640+18522+19448.1 =72410.1  

sorry for taking too much time.

Answer 2

Answer:
Final answer = Rs. 19448.10

Step-by-step explanation:
First Year = (given in text book)

Second year =
P = Rs. 16,800
R = 5%
T = 1 year

SI = PRT
       100
Si = 16800 X 5 X 1    =     Rs 840
              100
Amount = 16800 + 840 = Rs 17,640

Third Year =
P = Rs 17,640
R = 5%
T = 1 year

SI = PRT
       100
SI = 17640 X 5 X 1   =   Rs 882
              100
Amount = 17640 + 882  =  Rs 18522

Fourth Year =
P = Rs 18522
R = 5%
T = 1 year

SI = PRT
        100
SI = 18522 X 5 X 1  =  Rs 926.1
              100
Amount = 18522 + 926.1 = Rs 19448.1

Fifth Year =
P = Rs 19,448.1
R = 5%
T = 1 year

SI = PRT
       100
SI  = 19448.1 X 5 X 1  =  Rs 972.405
                 100
Amount = 19448.1 + 972.405 = 20,420.505

Amount in total 4 years = Rs 19448.10