Question

EXERCISE 10.1
arest is 8% p.a. compounded
Mrs. Sharma deposited 60,000 in a bank for 2 years. If the interest is 8% p.a. c
annually, what amount will she receive at the end of 2 years?
162
Mathematics Book-8

Answer 1

Question :

Mrs. Sharma deposited Rs 60,000 in a bank for 2 years. If the interest is 8% per annum compounded annually, what amount will she receive at the end of 2 years?

Solution :

$\underline{\bold{Given:}}$

• Principal = Rs 60,000
• Time = 2 years
• Rate = 8%

$\underline{\bold{To\:Find:}}$

• The amount received at the end of 2 years.

$\boxed{\purple{A= P({1 + \frac{R}{100} })^{T}}}$

$\implies A= P({1 + \frac{R}{100} })^{T} \\\\ \implies A = Rs \: 60,000({ 1 + \frac{8}{100}}) ^{2} \\\\ \implies A= Rs \: 60,000 {(1 + \frac{4}{25} })^{2} \\\\ \implies A = Rs \: 60,000( {\frac{25 + 4}{25} }) ^{2} \\\\ \implies A= Rs \: 60,000 \times \frac{29}{25} \times \frac{29}{25} \\\\ \implies A= Rs \: (96 \times 29 \times 29) \\\\ \implies A= Rs \: 80,736$

$\boxed{\green {\therefore {The\:amount\: received \:at \:the \:end \:of \:2 \:years\:is\:Rs \: 80,736.}}}$