Question

calculate the Amount and compound interest on Rs 6400 for 2 years at 6% per annum compounded annually.

please give the answer fast​

Answer 1

Given :-

• Principal = Rs,6400
• Rate = 6%
• Time = 2 years
• Interest is compounded annually

To Find :-

• Amount and Compound Interest

Formula :-

${:} \longrightarrow \sf\boxed{\bf{Amount\: = \: Principal\: \times \: \bigg(1 \: + \: \dfrac{Rate}{100}\bigg)^{Time} }}$

Solution :-

${:} \longrightarrow \sf{\sf{Amount\: = \: Principal\: \times \: \bigg(1 \: + \: \dfrac{Rate}{100}\bigg)^{Time} }}$

${:} \longrightarrow \sf{\sf{Amount\: = \: 6400\: \times \: \bigg(1 \: + \: \dfrac{6}{100}\bigg)^{2} }}$

${:} \longrightarrow \sf{\sf{Amount\: = \: 6400\: \times \: \bigg(\dfrac{106}{100}\bigg)^{2} }}$

${:} \longrightarrow \sf{\sf{Amount\: = \: 6400\: \times \: \dfrac{106}{100}\: \times \:\dfrac{106}{100} }}$

${:} \longrightarrow \sf{\sf{Amount\: = \: 64 \cancel{00}\: \times \: \dfrac{106 \: \times \: 106}{100 \cancel{00}} }}$

${:} \longrightarrow \sf{\sf{Amount\: = \: 64\: \times \: \dfrac{106 \: \times \: 106}{100} }}$

${:} \longrightarrow \sf{\sf{Amount\: = \: 64\: \times \: \dfrac{11236}{100} }}$

${:} \longrightarrow \sf{\sf{Amount\: = \: 64\: \times \: 112.36 }}$

${:} \longrightarrow \sf{\bf{Amount\: = \: Rs,7191.04 }}$

________________

★ Compound Interest ★

⇒ Compound Interest = Amount - Principal

⇒ Compound Interest = 7191.04 - 6400

⇒ Compound Interest = Rs,791.04

________________

Therefore, Compound Interest is Rs,791.04

________________