Question

Amit keep fixed deposit of Rs 25000 in a bank for 3 years. If the rate of interest is 10% per annum compounded annually find the total amount he will receive at the time of maturity after 3 years.​

Answer 1

$\bf\large{ Given : }$

• Principal(P) = Rs 25000

• Time(n) = 3 years

• Rate(r) = 10%

$\bf\large{ To \: Find : }$

• Amount Received by Amit after 3 years

$\bf\large{ Solution : }$

Let's Find Amount First.

$\bigstar \: \boxed{ \purple{ \sf \: Amount \: = P (1 + \frac{r}{100} )^{n} }}$

$\longrightarrow \sf \: 25000(1 + \dfrac{1 \cancel0}{10 \cancel0} ) ^{3}$

$\longrightarrow \sf \: 25000(1 + \dfrac{1 }{10} ) ^{3}$

$\longrightarrow \sf \: 25000 (\dfrac{10 + 1}{10} ) ^{3}$

$\longrightarrow \sf \: 25000 \: (\dfrac{11}{10} ) ^{3}$

$\longrightarrow \sf \: 25000 \times \dfrac{1331}{1000}$

$\longrightarrow \sf \: 1331 \times 25$

$\longrightarrow \red{ \sf \: Rs \: 33275}$

__________________________

Let's find C.I. now :

$\bigstar \: \boxed{ \purple{ \sf \: C.I. \: = Amount - Principal }}$

$\longrightarrow \sf \: Rs \: 33275\: - Rs\: 25000$

$\longrightarrow \red{ \sf \: Rs\: 8275}$

Hence, Amit would receive Rs 33275 as Amount and Rs 8275 as Compound Interest after 3 years.

Answer 2

Answer:

The amount Amit will receive after 3 years is Rs. 33275. The compound interest on the sum is of Rs. 8275.

Step-by-step explanation:

Given :

Amit keeps = Rs. 25,000

For = 3 years

At rate = 10%

To find :

The amount Amit will receive after 3 years

Solution :

P = Rs. 25,000

N = 3

R = 10%

Formula used - $\boxed{\sf{A= P\left( 1 + \frac{R}{100}\right)^{N}}}$

$\sf{\longrightarrow} \:A= 25000\left( 1 + \dfrac{10}{100}\right)^{3} \\ \\ \sf{\longrightarrow} \:A= 25000\left(\dfrac{110}{100}\right)^{3} \\ \\ \sf{\longrightarrow} \:A= 25\cancel{000} \times \dfrac{11}{1\cancel{0}} \times \dfrac{11}{1\cancel0} \times \dfrac{11}{1\cancel0} \\ \\ \sf{\longrightarrow} \:A= 25 \times 11 \times 11 \times 11 \\ \\ \sf{\longrightarrow} \:A= 25 \times 1331 \\ \\ \sf{\longrightarrow} \:A= 33275$

Amount = Rs. 33275

$\rule{300}{1.5}$

★ Compound interest on the sum -

$\boxed{\sf{CI = Amount - Principal}}$

$\sf{\longrightarrow} \: CI = 33275 - 25000 \\ \\ \sf{\longrightarrow} \: CI = 8275$

Compound interest = Rs. 8275

$\therefore$ The amount Amit will receive after 3 years is Rs. 33275. The compound interest on the sum is of Rs. 8275.