Question

9. Find the amount of 12000 after 2 years,
compounded annually, the rate of interest being
5% p.a. Also, find the compound interest.​

Answer 1

Answer:

The amount is Rs. 13230.

The Compound Interest is Rs. 1230

Answer 2

Given:

P = 12000

T = 2 years

R =  5 % P.A

Solution:

Amount:

$\sf{{A=P}{(1+{\dfrac{R}{100}})^T}}$

$\sf{{A=12000}{(1+{\dfrac{5}{100}})}{(1+{\dfrac{5}{100}})}}$

$\sf{{A=12000}\times{\dfrac{105}{100}}\times{\dfrac{105}{100}}}$

$\sf{{A=Rs.13230}}$

Compound Interest:

$\sf{Compound \:Interest = A-P}$

$\sf{C.I = 13230 - 12000}$

$\sf{C.I = Rs.1230}$