calculate the amount and the compound interest by using the formula for compound interest
principal=625 ratep.a.=4% time (in years)=2
Answers
Answer:
Amount=P(1+R/100)^n
=625(1+4/100)^2
=625*26/25*26/25
=676
CI=Amount-Principal
=676-625
=51
HOPE IT HELPS!!!!
PLEASE MARK ME AS BRAINlEAST!!!!!!
Step-by-step explanation:
Answer :
›»› The amount is Rs. 676.
›»› The compound interest is Rs. 51.
Step-by-step explanation :
Given :
- Principal = Rs. 625.
- Rate intrest = 4% per annum.
- Time = 2 years.
To Find :
- Amount = ?
- Compound interest = ?
Formula required :
Formula to calculate the amount is given by,
→ A = P(1 + R/100)ⁿ.
Here,
- A is the Amount.
- P is the Principal.
- R is the Rate.
- n is the Time.
Formula to calculate the compound interest is given by,
→ CI = A - P.
Here,
- CI is the Compound interest.
- A is the Amount.
- P is the Principal.
Solution :
We know that, if we are given with the principal, rate and time then we have the required formula, that is,
→ A = P(1 + R/100)ⁿ.
By using the formula to calculate the amount and substituting all the given values in the formula, we get :
→ A = 625(1 + 4/100)²
→ A = 625(100 + 4/100)²
→ A = 625(104/100)²
→ A = 625 × 104²/100²
→ A = 625 × 10816/100²
→ A = 625 × 10816/10000
→ A = 625 × 1.0816
→ A = 676.
Hence, the amount is Rs. 676.
Now,
We know that, if we are given with the amount and principal then we have the required formula, that is,
→ CI = A - P.
By using the formula to calculate the compound interest and substituting all the given values in the formula, we get :
→ CI = 676 - 625
→ CI = 51.