Question

22. Find the amount on a sum of 2000, for two years when the interest is compounded annually at
10% per annum​

Answer 1

Step-by-step explanation:

Principal (P) = Rs2000

Time(n) = 2years

Rate of interest (r%) = 10%

Amount (A) = P(1+r/100)^n

= 2000× ( 1+10/100)²

= 2000× (11/10)²

= 2000× 11²/10²

= 2000× 121/100

= 20 × 121

= 2420

Therefore, Amount = 2420

Answer 2

Given :-

• A sum of 2000 is invested for two years when the interest is compounded annually at10% per annum

To Find :-

• The amount on this sum after the given time.

Solution :-

~Here, we’re given the principal , rate of interest and time for which the money is invested and we need to find the Amount after the given time. We can easily find the amount by putting the values in it’s formula.  

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Here,  

• The principal  ( P ) is Rs. 2,000

• The rate ( R ) is 10 %  

• The time ( n )  is 2 years  

• The amount will be ( A )  which we need to find

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As we know that ,  

$\sf \bullet \;\; A =P \bigg\{ 1 + \dfrac{R}{100} \bigg\}^{n}$

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Finding the amount ::  

$\sf \implies A = 2000 \bigg\{ 1 + \dfrac{10}{100} \bigg\}^{2}$

$\sf \implies A = 2000 \bigg\{ \dfrac{110}{100} \bigg\}^{2}$

$\sf \implies A = 2000 \bigg\{ \dfrac{11}{10} \bigg\}^{2}$

$\sf \implies A = 2000 \times \dfrac{11}{10} \times \dfrac{11}{10}$

$\sf \implies A = 20 \times 11 \times 11$

$\underline{\boxed{\sf \leadsto A = Rs. \; 2420}}$

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Hence,  

• The amount on the sum after the given time will be Rs. 2420  

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