Question

Calculate the interest for each of the following cases. (a) P= 1,000, n = 2 years , r = 3 %. solution​

Answer 1

Step-by-step explanation:

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Answer 2

$\huge \mathfrak \blue{Answer:}$

$\fbox \pink{Given:}$

• Principal (P) = ₹1000
• Time (n) = 2 years
• Rate (r) = 3% per annum

$\fbox \purple{To find:}$

Interest.

$\fbox \orange{Information:}$

Interests are of two types:

1. Simple interest
2. Compound interest

$\fbox \green{Formulas:}$

Simple interest =$\frac{P \times R \times T}{100}$

Compound interest =

$A = P(1 + \frac{r}{n})^{nt}$

$\fbox \red{Solution:}$

First, let us find the simple interest:

So, simple interest =

⇒$\frac{1000 \times 2 \times 3}{100}$

⇒$\frac{6000}{100}$

∴ The simple interest is ₹60

Now, let us find the compound interest:

So, the compound interest =

⇒$A \: = 1000(1 + \frac{3}{2})^{2 \times 3}$

⇒$A \: = 1000(1 + \frac{3}{2})^{6}$

⇒$A \: = 1000 \times 7.75$

⇒$A \: = 7750$

Now, C.I. = Amount - Principal

= 7750 - 1000

= 6750

∴ The compound interest is ₹6750.