Question

A bank lent Rs12,025 to Rakesh at the compound interest rateof 4% per annum for 2 yesrs. how much did Rakesh repay as the interest?


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Answer 1

Step-by-step explanation:

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Answer 2

$\sf \green{\underline{✯Question : - }}$

• A bank lent Rs12,025 to Rakesh at the compound interest rateof 4% per annum for 2 yesrs. how much did Rakesh repay as the interest?

$\sf \green{\underline{✯Given : - }}$

• $\sf{ \pink{P(principal) = ₹12,025}}$
• $\sf{ \blue{T(time) = 2 \:years}}$
• $\sf{ \orange{R(rate) = 4\%}}$

$\sf \green{\underline{✯To\: find : - }}$

• C.I (compound interest) annually.

$\sf \green{\underline{✯Solution : - }}$

$\implies \sf {A \: = 12025 \times (1 + \frac{ \cancel 4 } {\cancel{100}}) } \\ \sf \implies \: A \: = 12025 \times {( 1 + \frac{1}{25} )}^{2} \\ \sf \implies \: A \: = \cancel{12025} \times \frac{26}{ \cancel{25}} \times \frac{26}{ \cancel{25}} \\ \bf \implies \: A = 19.24 \times 26 \times 26 \\ { \boxed{\bf {\implies \: A \: =₹ 13006.24}}}$

${ \boxed{ \boxed{ \therefore \bf\: Interest \: = C.I - P(principal)}}}$

${\boxed{\boxed{\:= \tt \:₹(13006.24 - 12025.00) = { \purple{ ₹981.24}}}}}$

$\sf \green{\underline{✯ Additional \: formula : - }}$

$\bf{\bigstar{\boxed{\boxed{\bf A (amount) = P (principal) \times 1 \: + \frac{R(rate)}{100}}}}}$