Question

calculate the amount and compound interest on rupees 8000 in two years if the rates of interest for the successive years we 8% and 10% respectively.​

Answer 1

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Information provided with us:

✰ For 1 St year

➪ Principal ( P )

$\implies \sf \:8000\: Rs$

➪Time

$\implies \sf \: 1 \: years$

➪ Rate of Interest

$\sf\implies \: 8 \: \%$

What we have to calculate༄

➪The required interest and amount

✰Formula used ༄

$\clubsuit \: \rm \:Simple \: Interest :$

$\longrightarrow\bigstar \: \: \sf\boxed{\bold{\orange{ \bigg(\dfrac{P \times R \times T}{100}\bigg)}}}\: \: \: \bigstar$

✰Where ༄

➡ P = Principle

➡ R = Rate of Interest

➡ T = Time

✰Now ༄

➡ Substitute the given values in above formula and solve

$\longrightarrow\bigstar \: \: \sf \boxed{\bold{\green{Interest = \bigg( \dfrac{8000\times 8\times 1}{100}\bigg)}}}\: \: \: \bigstar$

$\longrightarrow\bigstar \: \: \sf\boxed{\bold{\red{ Interest = \dfrac{64000}{100} }}}\: \: \: \bigstar$

$\longrightarrow\bigstar \: \: \sf\boxed{\bold{\pink{Interest= 640 \:Rs }}}\: \: \: \bigstar$

✰Now ༄

➪ Calculate amount

✰Formula used ༄

$\clubsuit \: \rm \: Amount :$

$\longrightarrow\bigstar \: \: \sf\boxed{\bold{\orange{Principle + Simple \: Interest}}}\: \: \: \bigstar$

✰Now ༄

➡ Substitute the given values in above formula and solve

$\longrightarrow\bigstar \: \: \sf \boxed{\bold{\green{Amount = (8000 + 640)}}}\: \: \: \bigstar$

$\longrightarrow\bigstar \: \: \sf\boxed{\bold{\pink{Amount= 8,640 \:Rs }}}\: \: \: \bigstar$

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Information provided with us:

✰ For 2 nd year

➪ Principal ( P )

$\implies \sf \:8640\: Rs$

➪Time

$\implies \sf \: 1 \: years$

➪ Rate of Interest

$\sf\implies \: 10 \: \%$

What we have to calculate༄

➪The required interest and amount

✰Formula used ༄

$\clubsuit \: \rm \:Simple \: Interest :$

$\longrightarrow\bigstar \: \: \sf\boxed{\bold{\orange{ \bigg(\dfrac{P \times R \times T}{100}\bigg)}}}\: \: \: \bigstar$

✰Where ༄

➡ P = Principle

➡ R = Rate of Interest

➡ T = Time

✰Now ༄

➡ Substitute the given values in above formula and solve

$\longrightarrow\bigstar \: \: \sf \boxed{\bold{\green{Interest = \bigg( \dfrac{8640\times 10\times 1}{100}\bigg)}}}\: \: \: \bigstar$

$\longrightarrow\bigstar \: \: \sf\boxed{\bold{\red{ Interest = \dfrac{86400}{100} }}}\: \: \: \bigstar$

$\longrightarrow\bigstar \: \: \sf\boxed{\bold{\pink{Interest= 864 \:Rs }}}\: \: \: \bigstar$

✰Now ༄

➪ Calculate amount

✰Formula used ༄

$\clubsuit \: \rm \: Amount :$

$\longrightarrow\bigstar \: \: \sf\boxed{\bold{\orange{Principle + Simple \: Interest}}}\: \: \: \bigstar$

✰Now ༄

➡ Substitute the given values in above formula and solve

$\longrightarrow\bigstar \: \: \sf \boxed{\bold{\green{Amount = (8640 + 864)}}}\: \: \: \bigstar$

$\longrightarrow\bigstar \: \: \sf\boxed{\bold{\pink{Amount= 9,504 \:Rs }}}\: \: \: \bigstar$

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✰Now ༄

➪ Calculate Compound interest

✰Formula used ༄

$\clubsuit \: \rm \: Compound \: interest :$

$\longrightarrow\bigstar \: \: \sf\boxed{\bold{\orange{Amount - Principle}}}\: \: \: \bigstar$

✰Now ༄

➡ Substitute the given values in above formula and solve

$\longrightarrow\bigstar \: \: \sf \boxed{\bold{\green{9504 - 8000}}}\: \: \: \bigstar$

$\longrightarrow\bigstar \: \: \sf\boxed{\bold{\pink{Compound \: interest= 1,504 \:Rs }}}\: \: \: \bigstar$

✰Therefore ༄

➡ The required amount is 9,504 Rs and the required compound interest is 1,504 Rs

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