Question

a man borrows rupees 5400 and at the rate of 6% per annum find the amount he has to pay at the end of 5 years plz show steps ​

Answer 1

Answer:

₹7226.28

Explanation :

Amount borrowed is ₹5,400

At the rate of 6% p. a. (per annum)

For 5 years.

Find the amount payable at the end of 5 years.

Using amount formula :

${\sf \longrightarrow Amount = p\bigg(1 + \dfrac{r}{100}\bigg)^n }$

Where,

• p(principal) = ₹5,400
• r(rate) = 6% p. a.
• n(time) = 5 years.

On substituting the given values :

$\sf \longrightarrow Amount = 5400\bigg(1 + \dfrac{6}{100}\bigg)^5$

Calculate the amount :

$\sf \longrightarrow 5400\bigg(1 + \dfrac{6}{100}\bigg)^5$

$\sf \longrightarrow 5400 \bigg( \frac{106}{100} \bigg)^{5}$

$\sf \longrightarrow 5400 {(1.06)}^{5}$

$\sf \longrightarrow 7226.28$

Hence, the required amount is ₹7226.28

Answer 2

Given

• Principal (P) = Rs 5400
• Rate of interest (r) = 6 % p.a
• Time period (T) = 5 years

To find

• Amount (A)

Solution

• A = P (1 + r/100)ⁿ
• A = 5400 (1 + 6/100)⁵
• A = 5400 (106/100)⁵
• A = 5400 (1.06)⁵
• A = 7226.28

Hence, the required amount is Rs 7226.28