Question

Calculate the amount and compound interest on Rs 10000 for 11/4 years at 10% per annum compounded annually

Answer 1

AnswEr:-

Amount is Rs.12996.604 & compound interest is Rs.2996.604

$\rule{200}{1}$

Given:-

• Principal (P) = Rs.10000
• Time(n) = 11/4 years = 2.75 years
• Rate of interest (r) = 10% p.a.

To find:-

• Compound amount & compound interest

Solution:-

We know formula:-

$\star\:{\boxed{\rm{\blue{Amount = P(1 + r)^n }}}}$

• Putting values:-

⇒ $\sf Amount = 10000(1 + 10\%)^{2.75}$

⇒ $\sf Amount = 10000(1 + 0.1)^{2.75}$

⇒ $\sf Amount = 10000(1.1)^{2.75}$

⇒ $\sf Amount = 10000 \times 1.297$

⇒ ${\underline{\boxed{\textsf{\textbf{Amount = 12996.604 }}}}}$

∴ Amount = Rs.12996.604

$\rule{150}{1}$

We know,

☛ CI = Amount - Principal

⇒ CI = 12996.604 - 10000

⇒ CI = Rs.2996.604

∴ Compound interest = Rs.2996.604

Answer 2

$\large{\underline{\red{\rm{AnswEr:}}}}$

$\bold\orange{\underline{Amount=13007.5}}$

$\bold\red{\underline{Compound\: Interest=3007.5}}$

$\bold\green{\underline{Given:}}$

Principal=Rs.10000

Time=11/4years

Rate=10%

$\bold\orange{\underline{Find: Amount\:and\:CI}}$

Note: when time is given in Fraction than we have to change fraction in mixed fraction.Time=11/4=2whole3/4

• Using formula of amount

$\bold\purple{\boxed{A=P(1+\frac{r}{100})^n(1+\frac{rF}{100})}}$

• Here n=2 r=10 F=3/4

⟹A=10000(1+10/100)²(1+10×3/100×4)

⟹A=10000(110/100)²(430/400)

⟹A=10000×(11/10)²(43/40)

⟹A=10000×121/100×43/40

⟹A=5×121×43/2

⟹A=26015/2

⟹A=13007.5

Now using formula to calculate CI

$\bold\purple{\boxed{CI=A-P}}$

⟹CI=13007.5-10000

⟹CI=3007.5

Hence,

Compound Interest=3007.5

Amount=13007.5