Question

calculate the amount if ₹6000 is invested at 5% P.A compounded anually for 2 years​

Answer 1

Answer:

Step-by-step explanation:

Principal = 6000, Rate of interest = 5%, Time = 2 years

Amount = P  (1 + R / 100)^n

= 6000 (1 + 5/100)^2

= 6000 (1 + 1/20)^2

= 6000 (21/20)^2

= 6000 x 21/20 x 21/20

= 15 x 21 x 21

= 15 x 441

= 6615

Therefore will be rs. 6615

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Answer 2

Given

⇒Principal(P) = ₹6000

⇒Interest Rate(R) = 5%

⇒Time(T) = 2 years

Formula

⇒A = P(1 + R/100)ᵀ

To Find

⇒Amount = ?

Now Put the value on formula

⇒A = 6000( 1 + 5/100)²

⇒A= 6000( 1 +1/20)²

⇒A = 6000{( 20 + 1 )/20}²

⇒A = 6000( 21/20 )²

⇒A = 6000 × 441/400

⇒A = 60×441/4

⇒A = 15 × 441

⇒A = 6615 /-

More Information

Derivation of formula

⇒1 Compound period

P + r/n × P = P(1 + r/n) = p(1 +r/n)¹

⇒2 Compound periods

P(1 + r/n) +r/n × p( 1 + r/n) = P( 1 + r/n )(1 + r/n) = P( 1 + r/n)²

⇒3 Compounding Periods

P( 1 + r/n )² + r/n × P( 1 + r/n)²= P(1+r/n)²(1+r/n) = P( 1 + r/n)³

⇒tn Compound period = t years

A = P(1 + r/n)ⁿᵗ