Question

Calculate the compound interest and amount for 2 years at 10% p.a. on ₹ 4700.​

Answer 1

Answer:

principal amount is 4700

rate is 10%

time is 2 years

interest = 4700×10×2÷100

interest= 940

amount = 4700×100×100×110÷100×100×100

amount=5170

Answer 2

Answer :-

• The amount is Rs 5687
• The compound interest is Rs 987.

To find :-

• The compound interest and amount for 2 years at 10% p.a. on Rs 4700.

Solution :-

• Before finding the compound interest, let's find the amount!

We know that :-

$\underline{ \boxed{ \sf Amount = Principal \left(1 + \dfrac{Rate}{100}\right)^{Time}}}$

Here,

• Principal = Rs 4700.
• Rate = 10% p.a.
• Time = 2 years.

Therefore,

$\hookrightarrow\rm A = 4700 \left(1 + \dfrac{10}{100} \right)^{2}$

$\hookrightarrow\rm A = 4700 \left(1 + \dfrac{1}{10} \right)^{2}$

$\hookrightarrow \rm A = 4700 \left( \dfrac{1 \times 10 + 1 \times 1}{10} \right)^{2}$

$\hookrightarrow \rm A = 4700 \left( \dfrac{10 + 1}{10} \right)^{2}$

$\hookrightarrow\rm A = 4700 \left( \dfrac{11}{10} \right)^{2}$

$\hookrightarrow \rm A = 4700 \times \dfrac{11}{10} \times \dfrac{11}{10}$

$\hookrightarrow\rm A = 4700 \times \dfrac{121}{100}$

$\hookrightarrow\rm A = \dfrac{568700}{100}$

$\hookrightarrow \underline{ \boxed{ \rm A = Rs \: 5687}}$

Hence :-

• The amount is Rs 5687.

------------------------------------------

• Now, let's find the compound interest as we know the amount!

We know that :-

$\underline{ \boxed{\sf CI = Amount - Principal }}$

Where,

• CI = Compound Interest.

Here,

• Amount = Rs 5687.
• Principal = Rs 4700.

Therefore,

$\bf CI = 5687 - 4700$

$\bf CI = Rs \: 987$

Hence :-

• The compound interest is Rs 987.

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