Question

A bank lends Rs. 50000 for 2 years at 10% p.a. compound interest compounded yearly. The amount and CI will be​

Answer 1

Step-by-step explanation:

Given :

Money lended = Rs. 50000

Time = 2 years

Rate = 10%

To find :

Compound interest and Amount

Solution :

$\bigstar \: {\boxed{\sf{A= P\left( 1 + \frac{R}{100}\right)^{N}}}} \\ \\ \sf{\implies} \: 50000\left( 1 + \frac{10}{100}\right)^{2} \\ \\ \sf{\implies} \: 50000\left( \frac{110}{100}\right)^{2} \\ \\ \sf{\implies} \: 50000\left( \frac{11}{10}\right)^{2} \\ \\ \sf{\implies} \: 50000 \times \dfrac{11}{10} \times \dfrac{11}{10} \\ \\ \sf{\implies} \: 500 \times 11 \times 11 \\ \\ \sf{\implies} \: 60500$

.°. Amount = Rs. 60500

$\rule{300}{1.5}$

$\bigstar \: \boxed{\sf{CI = Amount - Principal}} \\ \\ \sf{\implies} \: 60500 - 50000 \\ \\ \sf{\implies} \:10500$

.°. Compound Interest = Rs. 10,500