Question

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

Answer 1

• Amount is Rs 4577.76.
• Compound interest is Rs 177.76 .

Step-by-step explanation:

Given:-

• Principal is Rs 4400.
• Rate of interest is 2%.
• Time period is 2 years.

To find :-

• Amount.
• Compound interest.

Solution :-

• Interest is compounded annually.

So,

$\boxed{\sf \bold{Amount = P \bigg( 1 + \dfrac{r}{100} \bigg)^{n} }}$

Where,

• P is principal, r is rate of interest and n is time period.

Put all values in formula :

$\sf \longrightarrow Amount = 4400 \times \bigg( 1 + \dfrac{2}{100} \bigg)^{2}$

$\sf \longrightarrow Amount = 4400 \times \bigg( \dfrac{100 + 2}{100} \bigg) ^{2}$

$\sf \longrightarrow Amount = 4400 \times \bigg( \dfrac{102}{100} \bigg) ^{2}$

$\sf \longrightarrow Amount = 4400 \times \dfrac{10404}{10000}$

$\sf \longrightarrow Amount = 4400 \times 1.0404$

$\longrightarrow \purple{\boxed{\sf \bold{Amount = 4577.76}}\star}$

Thus,

Amount is Rs 4577.76

Now,

$\boxed{\sf \bold{Compound \: interest = Amount - Principal }}$

$\sf \longrightarrow 4577.76 - 4400$

$\longrightarrow \red{\boxed{\sf \bold{177.76}}\star}$

Therefore,

Compound interest is Rs 177.76 .

Answer 2

Answer:

Question

Find amount when interest is compounded annually. and find compound interest.

On principal ₹ 4400 rate 2% for 2 years.

Given in the question:-

• Principal (p) = Rs. 440
• Rate of interest given (r) : 2% per annum
• Time period given ( T) : 2 yrs

Step-by-step explanation:

Now we have to find out in the question:-

Amount = ?

Compound interest = ?

Formula

See in given I have written one extra thing at the point of rate of interest. I have written Rate of interest is 2 % "Per annum " which I generally meant that interest is taken as annually

$amount \: = \: p \: ( \: 1 \: + \frac{r}{100} )t \: </p><p>$

So, By using the formula let's solve it

So, putting the value let's solve it step -by - step

$= > amount \: = \: 4400 \times (1 + \frac{2}{100})²</p><p></p><p>$

$= >amount \: = \: 4400 \times ( \frac{100 + 2}{100})²$

$= > amount \: = 4400 \times ( \frac{102}{100})²$

$= > amount \: = \: 4400 \times \frac{10404}{10000}$

$= > amount \: = \: 4400 \times 1.0404$

$= > amount \: = \: 4577.76$

$amount \: here \: becomes \: 4577.76$

Now, we know the formula of compound interest

Let's find out

$now \:$

$compound \: interest \: = amount \: - princpal$

$= > 4577.76 - 4400$

$= > 177.76 \: is \: the \: answer \: of \: the \: compound \: interest$

$•°• \: compound \: interest \: becomes \: rs \: 177.76$

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