Abhishek borrowed Rs. 2000 at 8% rate of interest per annum, what is the
the amount he needs to pay after 4 years?
Answers
Step-by-step explanation:
By using the formula,
A = P (1 + R/100) n
Let us solve
(i) Given, P = Rs 3000, rate = 5%, time = 2years
A = P (1 + R/100) n
= 3000 (1 + 5/100)2
= 3000 (105/100)2
= Rs 3307.5
Compound interest (CI) = A-P = Rs 3307.5 – 3000 = Rs 307.5
(ii) Given, P = Rs 3000, rate = 18%, time = 2years
A = P (1 + R/100) n
= 3000 (1 + 18/100)2
= 3000 (118/100)2
= Rs 4177.2
Compound interest (CI) = A-P = Rs 4177.2 – 3000 = Rs 1177.2
(iii) Given, P = Rs 5000, rate = 10%, time = 2years
A = P (1 + R/100) n
= 5000 (1 + 10/100)2
= 5000 (110/100)2
= Rs 6050
Compound interest (CI) = A-P = Rs 6050 – 5000 = Rs 1050
(iv) Given, P = Rs 2000, rate = 4%, time = 3years
A = P (1 + R/100) n
= 2000 (1 + 4/100)3
= 2000 (104/100)3
= Rs 2249.72
Compound interest (CI) = A-P = Rs 2249.72 – 2000 = Rs 249.72
(v) Given, P = Rs 12800, rate = 7 ½ % = 15/2% = 7.5%, time = 3years
A = P (1 + R/100) n
= 12800 (1 + 7.5/100)3
= 12800 (107.5/100)3
= Rs 15901.4
Compound interest (CI) = A-P = Rs 15901.4 – 12800 = Rs 3101.4
(vi) Given, P = Rs 10000, rate = 20 % = 20/2 = 10% (quarterly), time = 2years = 2 × 2 = 4years
A = P (1 + R/100) n
= 10000 (1 + 10/100)4
= 10000 (110/100)4
= Rs 14641
Compound interest (CI) = A-P = Rs 14641 – 10000 = Rs 4641
(vii) Given, P = Rs 160000, rate = 10% = 10/2% = 5% (half yearly), time = 2years = 2×2 = 4 quarters
A = P (1 + R/100) n
= 160000 (1 + 5/100)4
= 160000 (105/100)4
= Rs 194481
Compound interest (CI) = A-P = Rs 194481 – 160000 = Rs 34481
.....
Answer:
amount = p { 1 + r } ^n
-------
100
amount = 2000 { 1 + 8 / 100 } ^4
amount = 2000 { 1 + 2 / 25 } ^4
amount= 2000 {27/25} ^4
amount =2000×27/25×27/25×27/25×27/25
amount = 10062882000 / 390625
amount = 2720.977
compound interest = amount- principal
2720.977- 2000
720.977
hope it's right And it's help you
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