Question

Find compound interest on rupees 50000 at 16% per annum for 2 years compounded annually

Answer 1

hyyy mate....
thanks for the question....
i will tell you a short trick of this..
if u can use calci...
plz apply it..
press r/100+1×p = A
u know that A- P = I
so ur ans us A= 67280
I = 17280..
hope it helps u....
if u don't like it plz comment me nd if you want u can report it...

Answer 2

The compound interest is ₹17280

Solution:

Given: Principle = 50,000

Rate = 16%

Number of years = 2

To find: Compound interest

The formula to calculate compound interest is as follows,

$A=P\left(1+\frac{r}{100}\right)^{n t}$

where, A=final amount ; P=initial principal balance ; r=interest rate ; n=number of years

$Amount = 50000\times(1+\frac{16}{100})^{2}=50000\times(\frac{100+16}{100})\times(\frac{100+16}{100})$

$\Rightarrow50000\times\frac{116}{100}\times\frac{116}{100}=67280$

Compond Interest = Amount-Principal=67280-50000=17280

The compound interest = rupees 17280

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