Question

6) Find the compound interest on 29000 invested for 2 years at the rate of 10 pcpc
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Answer 1

Given :-

Principal amount is Rs 29,000  

Rate of interest is 10 pcpa  

Time is 2 years

To Find :-

Compound Interest

Solution :-

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

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Here,  

• The principal  ( P ) is Rs. 29,000

• The rate ( R ) is 10 %  

• The time ( n )  is 2 years  

• The amount will be ( A )  

• Compound Interest be ( CI )  

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As we know that ,

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

$\boxed{ \sf { \maltese \;\; CI = A -P }}$

Finding the Amount :-

$\sf \dashrightarrow A = 29,000 \bigg\{ 1 + \dfrac{10}{100} \bigg\}^{2}$

$\sf \dashrightarrow A = 29,000 \bigg\{ \dfrac{11}{10} \bigg\}^{2}$

$\sf \dashrightarrow A = 29,000 \times \dfrac{11}{10} \times \dfrac{11}{10}$

$\sf \dashrightarrow A = 290 \times 11 \times 11$

$\boxed{\bf{ \bigstar \;\; Amount = Rs. \; 35,090 }}$

Finding the Compound Interest :-  

$\sf \dashrightarrow CI = Rs. 35,090 -29,000$

$\boxed{ \bf { \bigstar \;\; Compound\;Interest = Rs. \; 6,090 }}$

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Hence,  

• The compound interest is Rs. 6,090  

Answer 2

$\huge\sf{question - }$

$\star \: \bold{find \: the \: compound \: interest \:on \: 29000 \: invested \: for \: 2 \: years \: at \: the \: rate \: of \: 10\%}$

$\huge\sf\pink{answer - }$

$\small\bold\color{blue}{given - }$

$\color{gold}\dagger \: principal \: = 29000\\ \color{gold} \dagger \: time \: = 2 \: years \\ \color{gold} \dagger \: rate \: = 10\%$

$\small\bold\color{blue}find -$

$\small\circ\bold\color{gold}{ \: compound \: interest} \:$

$\sf\color{plum}solution -$

$\color{purple}amount = principal(1 + \frac{r}{100})^{n}$

$\bold{a = 29000(1 + \frac{10}{100})^{2}}$

$a = 29000( \frac{110}{100} \times \frac{110}{100})$

$a = 29000 \times \frac{110}{100} \times \frac{110}{100}$

$a = 290 \times 11 \times 11 \\ \star \: a = 35090$

$\color{green} \therefore \: amount \: = 35090$

$\blue{\ddagger \: compound \: interest = amount - principal}$

$\purple{ \star \: compound \: interest = 35090 - 29000}\\ \pink{\bigstar = 6090}$

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