Question

(a) Find the compound interest on Rs.96000 for 2 years 3 months at 5% per annum interest being compounded annually.​

Answer 1

$\maltese{\underline{\textbf{\textsf{Given:—}}}}$

Principal = 96000 rupees

Time = 2 years 3 months

Rate = 5%

$\maltese{\underline{\textbf{\textsf{To\:Find:—}}}}$

Find the compound interest.

$\maltese{\underline{\textbf{\textsf{Using\:Formula:—}}}}$

Formula for finding the amount

$\bigstar{\boxed{\bold{a = p {(1 + ( \frac{r}{100}) }^{n}}}}$

Formula for finding the Compound interest

$\bigstar{\boxed{\bold{compound \: interest = amount - principal}}}$

$\maltese{\underline{\textbf{\textsf{Solution:—}}}}$

$\bigstar$According to the question—

${\longrightarrow}{\tt{a = 96000 {(1 + \frac{5}{100} }^{2} (1 + \frac{( \frac{1}{4} \times 1 \cancel0) }{10 \cancel0}}} \\ \\ {\longrightarrow}{\tt{a = 96000 {(1 + \frac{1}{20} ) }^{2} (1 + \frac{1}{40}}} \\ \\ {\longrightarrow} {\tt{a = 96000 { (\frac{21}{20}) }^{2} ( \frac{41}{40})}} \\ \\ {\longrightarrow}{\tt{a = 96000 \times \frac{441}{400} \times \frac{41}{40}}} \\ \\ {\longrightarrow}{\tt{a = 144648 \: rupees}}$

Hence,the amount will be 144648 rupees.

${\longrightarrow}{\tt{compound \: interest = 144648 - 96000}} \\ \\ {\longrightarrow}{\tt{compound \: interest = 48648 \: rupees}}$

$\maltese{\underline{\textbf{\textsf{Therefore:—}}}}$

• Amount = 144648 rupees

• Compound Interest = 48648 rupees

Answer 2

Answer:

✠

Given:—

Principal = 96000 rupees

Time = 2 years 3 months

Rate = 5%

\maltese{\underline{\textbf{\textsf{To\:Find:—}}}}✠

ToFind:—

Find the compound interest.

\maltese{\underline{\textbf{\textsf{Using\:Formula:—}}}}✠

UsingFormula:—

Formula for finding the amount

\bigstar{\boxed{\bold{a = p {(1 + ( \frac{r}{100}) }^{n}}}}★

a=p(1+(

100

r

)

n

Formula for finding the Compound interest

\bigstar{\boxed{\bold{compound \: interest = amount - principal}}}★

compoundinterest=amount−principal

\maltese{\underline{\textbf{\textsf{Solution:—}}}}✠

Solution:—

\bigstar★ According to the question—

\begin{gathered} {\longrightarrow}{\tt{a = 96000 {(1 + \frac{5}{100} }^{2} (1 + \frac{( \frac{1}{4} \times 1 \cancel0) }{10 \cancel0}}} \\ \\ {\longrightarrow}{\tt{a = 96000 {(1 + \frac{1}{20} ) }^{2} (1 + \frac{1}{40}}} \\ \\ {\longrightarrow} {\tt{a = 96000 { (\frac{21}{20}) }^{2} ( \frac{41}{40})}} \\ \\ {\longrightarrow}{\tt{a = 96000 \times \frac{441}{400} \times \frac{41}{40}}} \\ \\ {\longrightarrow}{\tt{a = 144648 \: rupees}}\end{gathered}

⟶a=96000(1+

100

5

2

(1+

10

0

(

4

1

×1

0

)

⟶a=96000(1+

20

1

)

2

(1+

40

1

⟶a=96000(

20

21

)

2

(

40

41

)

⟶a=96000×

400

441

×

40

41

⟶a=144648rupees

Hence,the amount will be 144648 rupees.

\begin{gathered} {\longrightarrow}{\tt{compound \: interest = 144648 - 96000}} \\ \\ {\longrightarrow}{\tt{compound \: interest = 48648 \: rupees}}\end{gathered}

⟶compoundinterest=144648−96000

⟶compoundinterest=48648rupees

\maltese{\underline{\textbf{\textsf{Therefore:—}}}}✠

Therefore:—

Amount = 144648 rupees

Compound Interest = 48648 rupees