Question

Anil took a loan of Rs. 60,000 at an interest rate of 10% per annum

Compounded annually. What amount would he return after 2 years.​

Answer 1

${\pmb{\underline{\sf{ Required \ Solution ... }}}}$

• Principal = ₹ 60,000
• Rate (r) = 10%
• Time (t) = 2 years

As We know that Amount can be find using the following data such as Principal, rate, Time so that:-

$\circ \ {\pmb{\underline{\boxed{\sf{ Amount = P \left( 1 + \dfrac{r}{100} \right)^ n }}}}}$

$\\ \bigstar \ {\pmb{\underline{\sf{ According \ to \ Question: }}}} \\ \\ \\ \colon\implies{\sf{ 60000 \left( 1 + \dfrac{10}{100} \right)^ 2 }} \\ \\ \\ \colon\implies{\sf{ 60000 \left( \cancel{ \dfrac{110}{100} } \right)^ 2 }} \\ \\ \\ \colon\implies{\sf{ 60000 \left( \dfrac{11}{10} \right)^ 2 }} \\ \\ \\ \colon\implies{\sf{ 60000 \times \dfrac{11}{10} \times \dfrac{11}{10} }} \\ \\ \\ \colon\implies{\sf{ 600 \cancel{00} \times \dfrac{11}{1 \cancel{0} } \times \dfrac{11}{1 \cancel{0} } }} \\ \\ \\ \colon\implies{\sf{ 600 \times 121 }} \\ \\ \\ \colon\implies{\underline{\boxed{\sf{ Rs. \ 72600_{(Amount)} }}}}$

Hence,

$\\ {\pmb{\underline{\sf\green{ The \ Amount \ of \ the \ Loan \ after }}}} \\ {\pmb{\underline{\sf\green{ two \ year \ will \ be \ Rs. \ 72600. }}}}$