Question

Find compound Interest p=16000 R=5% t=2years

Answer 1

$\underline{\bf{Solution\: :}}$

$\underline{\bf{Given\::}}$

$\small \sf{Principal,_{ (P) }= Rs.16000}$

$\small\sf{Rate,_{ (R)} = 5 \: \% \: p.a}$

$\small\sf{Time, _{ (n)} = 2 \: years}$

$\underline{\bf{Explanation\::}}$

As we know that formula of the compounded annually;

$\boxed{\tt{Amount = Principal\bigg(1+\frac{R}{100} \bigg)^{n}}}$

A/q

$\mapsto\tt{Amount = 16000\bigg(1+\dfrac{5}{100} \bigg)^{2}}$

$\mapsto\tt{Amount = 16000\bigg(1+\cancel{\dfrac{5}{100}} \bigg)^{2}}$

$\mapsto\tt{Amount = 16000\bigg(1+\dfrac{1}{20} \bigg)^{2}}$

$\mapsto\tt{Amount = 16000\bigg(\dfrac{20+1}{20} \bigg)^{2}}$

$\mapsto\tt{Amount = 16000\bigg(\dfrac{21}{20} \bigg)^{2}}$

$\mapsto\tt{Amount = 16000\times \dfrac{21}{20} \times \dfrac{21}{20}}$

$\mapsto\tt{Amount = \cancel{16000} \times \dfrac{21\times 21 }{\cancel{400}}}$

$\mapsto\tt{Amount = Rs.(40 \times 21 \times 21)}$

$\mapsto\bf{Amount = Rs.17640}$

Now, as we know that compound Interest;

⇒ C.I. = Amount - principal

⇒ C.I. = Rs.17640 - Rs.16000

⇒ C.I. = Rs.1640

So,

The compound Interest will be Rs.1640 .