Question

Find amount when interest is compounded annually. and find compound interest.
On principal ₹ 4400 rate 2% for 2 years.​

Answer 1

Given :

• Princiapl = Rs.4400
• Rate of Interest = 2%
• Time = 2 years

To Find :

• Amount and compound Interest

Solution :

Amount is given by ,

$\\ \star \: {\boxed{\purple{\sf{A = P\bigg(1+\dfrac{R}{100}\bigg)^n}}}}$

Where ,

• A is Amount
• R is rate of interest
• n is time

Substituting the values we have ,

$\\ : \implies \sf \: A = 4400 \bigg(1 + \dfrac{2}{100} \bigg)^{2}$

$\\ : \implies \sf \: A= 4400 {\bigg( \dfrac{100 + 2}{100} \bigg)}^{2}$

$\\ : \implies \sf \: A= 4400 { \bigg( \dfrac{102}{100} \bigg) }^{2}$

$\\ : \implies \sf \: A = 4400 \bigg( \dfrac{102 \times 102}{100 \times 100} \bigg)$

$\\ : \implies \sf \: A= 4400 \bigg( \dfrac{10404}{10000}\bigg)$

$\\ : \implies{\underline{\boxed{\pink{\sf{A = Rs.\:4577.76}}}}} \: \bigstar$

Now , using the relation between Principal , Amount and compound interest ;

$\\ : \implies \sf \:CI = A - P$

$\\ : \implies \sf \: CI = 4577.76 - 4400$

$\\ : \implies{\underline{\boxed{\pink{\sf{\: CI = Rs. \:177.76}}}}} \: \bigstar$

Hence ,

• The Amount and Compound interest are Rs. 4,577.76 and Rs. 177.76

Answer 2

$\fbox{SOLUTION :}$

⇒ $Amount = Principal(\frac{Rate}{100}+1)^{Time}$

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We have :

Amount = x

Principal = 4400

Rate = 2

Time = 2

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⇒ $x = 4400 (\frac{100+2}{100} )^{2}$

⇒ $x = 4400(\frac{102}{100} )^{2}$

⇒ $x =$ $4400(\frac{102\times102 }{10000} )$              

⇒ $x = \frac{44\times102\times102}{100}$

⇒$x =$ ₹ $4577.76$

$\boxed{x = Amount= rupees 4577.76 }$

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$Compound\ Interest = Amount - Principal$

⇒ $4,577.76- 4,400$

⇒₹ 177.76

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Amount = ₹ 4,577.76

Compound Interest= ₹ 177.76

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HERE YOUR SOLUTION COMPLETES.

HOPE THIS ACTUALLY HELPS YOU .