Question

calculate the amount and the compound interest when rupees 10000 is invested for 2 years at the rate of 6%​

Answer 1

Given :-  

• Rs. 10,000 is invested at 6%p.a. compounded annually for two years .  

To Find :-  

• What will be the amount ?  

Solution :-  

~Here, we’re given the principal , rate and time for which the money is invested and we need to find the amount after the given time. We can easily find the amount by putting the values in it’s formula.  

Here,  

• The principal  ( P ) is Rs. 10,000  
• The rate ( R ) is 6 %  
• The time ( n )  is 2 years  
• The amount will be ( A )  

As we know that formula of amount is ,  

$\sf \bullet \;\; A = P \bigg \{ 1 + \dfrac{R}{100} \bigg \}^{n}$  

By putting the values !  

$\sf \implies A = 10,000 \bigg \{ 1 + \dfrac{6}{100} \bigg \}^{2}$

$\sf \implies A = 10,000 \bigg \{ \dfrac{106}{100} \bigg \}^{2}$

$\sf \implies A = 10,000 \times \dfrac{106}{100} \times \dfrac{106}{100}$

$\sf \implies A = 1 \times 106 \times 106$

$\sf \implies A = Rs. \; 11,236$

Therefore,  

• The amount will be Rs. 11,236  

Answer 2

Given :

• Principal (P) = Rs 10000
• Rate (R) = 6% per annum
• Time (n) = 2 years

To Find :

• Amount
• Compound interest

Formula :

• A = P [1 + R / 100]^n
• C.I = A - P

Where :

• A denotes Amount
• P denotes Principal
• R denotes Rate
• n denotes Time
• C.I denotes Compound Interest

Solution :

⟹ A = P [1 + R / 100]^n

⟹ A = 10000 [1 + 6 / 100]²

⟹ A = 10000 [106 / 100]²

⟹ A = 10000 × 106 / 100 × 106 / 100

⟹ A = 100 × 106 × 106 / 100

⟹ A = 106 × 106

⟹ Amount = Rs 11,236

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➞ C.I = Amount - Principal

➞ C.I = 11236 - 10000

➞ Compound Interest = Rs 1,236

Thus Compound Interest is Rs 1,236

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