Question

( 2 ) Find the compound interest on 16,000 for 2 years at 5%.​

Answer 1

S O L U T I O N :

$\underline{\bf{Given\::}}$

• Principal, (P) = Rs.16000
• Rate, (R) = 5% p.a
• Time, (n) = 2 years

$\underline{\bf{Explanation\::}}$

As we know that formula of the compounded annually;

$\boxed{\bf{Amount = Principal\bigg(1+\frac{R}{100} \bigg)^{n}}}$

A/q

$\mapsto\tt{Amount = 16000\bigg(1+\dfrac{5}{100} \bigg)^{2}}$

$\mapsto\tt{Amount = 16000\bigg(1+\cancel{\dfrac{5}{100}} \bigg)^{2}}$

$\mapsto\tt{Amount = 16000\bigg(1+\dfrac{1}{20} \bigg)^{2}}$

$\mapsto\tt{Amount = 16000\bigg(\dfrac{20+1}{20} \bigg)^{2}}$

$\mapsto\tt{Amount = 16000\bigg(\dfrac{21}{20} \bigg)^{2}}$

$\mapsto\tt{Amount = 16000\times \dfrac{21}{20} \times \dfrac{21}{20}}$

$\mapsto\tt{Amount = \cancel{16000} \times \dfrac{21\times 21 }{\cancel{400}}}$

$\mapsto\tt{Amount = Rs.(40 \times 21 \times 21)}$

$\mapsto\bf{Amount = Rs.17640}$

Now, as we know that compound Interest;

⇒ C.I. = Amount - principal

⇒ C.I. = Rs.17640 - Rs.16000

⇒ C.I. = Rs.1640

Thus,

The compound Interest will be Rs.1640 .

Answer 2

Step-by-step explanation:

S O L U T I O N :

\underline{\bf{Given\::}}

Given:

Principal, (P) = Rs.16000

Rate, (R) = 5% p.a

Time, (n) = 2 years

\underline{\bf{Explanation\::}}

Explanation:

As we know that formula of the compounded annually;

\boxed{\bf{Amount = Principal\bigg(1+\frac{R}{100} \bigg)^{n}}}

Amount=Principal(1+

100

R

)

n

A/q

\mapsto\tt{Amount = 16000\bigg(1+\dfrac{5}{100} \bigg)^{2}}↦Amount=16000(1+

100

5

)

2

\mapsto\tt{Amount = 16000\bigg(1+\cancel{\dfrac{5}{100}} \bigg)^{2}}↦Amount=16000(1+

100

5

)

2

\mapsto\tt{Amount = 16000\bigg(1+\dfrac{1}{20} \bigg)^{2}}↦Amount=16000(1+

20

1

)

2

\mapsto\tt{Amount = 16000\bigg(\dfrac{20+1}{20} \bigg)^{2}}↦Amount=16000(

20

20+1

)

2

\mapsto\tt{Amount = 16000\bigg(\dfrac{21}{20} \bigg)^{2}}↦Amount=16000(

20

21

)

2

\mapsto\tt{Amount = 16000\times \dfrac{21}{20} \times \dfrac{21}{20}}↦Amount=16000×

20

21

×

20

21

\mapsto\tt{Amount = \cancel{16000} \times \dfrac{21\times 21 }{\cancel{400}}}↦Amount=

16000

×

400

21×21

\mapsto\tt{Amount = Rs.(40 \times 21 \times 21)}↦Amount=Rs.(40×21×21)

\mapsto\bf{Amount = Rs.17640}↦Amount=Rs.17640

Now, as we know that compound Interest;

⇒ C.I. = Amount - principal

⇒ C.I. = Rs.17640 - Rs.16000

⇒ C.I. = Rs.1640

Thus,

The compound Interest will be Rs.1640