Question

find amount if rupees 2,000 is invested for 2 years at 4% per annum compounded annually​

Answer 1

Answer:

amount = 2163.2

Step-by-step explanation:

·Principal = 2000

@ Rate = 4%

·Time = 2 yrs.

as we know,

amount = p₁ ( 1 + r/100)ⁿ

solution :

2000 ( 1 + 4/100)²

= 2000 * 104 * 104 / 100

= 2163.2

Answer 2

Given:

An amount of Rs 2000 is invested for 2 years at 4% per annum compounded annually.

To Find:

The final amount after interest is calculated.

Solution:

The given problem can be solved using the concepts of compound interest.

1. Given data:

• Principal amount = Rs 2000
• Rate = 4%
• Time = 2 years

2. Formula used:

• Amount = $P(1+\frac{r}{100})^n$ ( n = time period, r = rate of interest )

3. Substitute the data in the above formula,

=> Amount = 2000 ( 1 + (4/100) )^2,

=> Amount = (2000 x 104 x 104)/100 x 100,

=> Amount = (2 x 104 x 104)/10,

=> Amount = 2163.2

The final Amount is Rs 2163.2.