Question

Find the amount and C.I when interest is compounded annually
P=₹18000 , T=2 years

$r = 15 \frac{1}{2} \: p.a$
​

Answer 1

Step-by-step explanation:

Given that:

• P = ₹ 18000, T = 2 years, R = 15.5% p.a.

To Find:

• The amount and C.I when interest is compounded annually.

Formula:

In compound interest.

• A = P(1 + R/100)ᵀ
• C.I. = A - P

Where,

• A = Amount
• P = Principal = ₹ 18000
• R = Rate = 15.5% p.a.
• T = Time = 2 years
• C.I. = Compound interest

Finding the amount:

↣ A = 18000(1 + 15.5/100)²

↣ A = 18000(1 + 0.155)²

↣ A = 18000(1.155)²

↣ A = 1800(1.334025)

↣ A = 24012.45

Therefore,

• Amount is ₹ 24012.45.

Finding the C.I:

↣ C.I. = 24012.45 - 18000

↣ C.I. = 6012.45

Hence,

• Compound interest is ₹ 6012.45.

Answer 2

Question:

Find the amount and C.I when interest is compounded annually if,

• Principal = ₹ 18000

• Time = 2 years

• Rate = 15.5%

Answer:

• Amount = ₹ 24012.45

• C.I = ₹ 6012.45

Explanation:

Given that:

• Principal = ₹ 18,000

• Rate = 15.5 % p.a

• Time = 2 years

To Find:

• Amount = ?

• Compound interest (C.I) = ?

Formulae used:

$\large{\boxed{\sf{\red{Amount = Principal\Bigg[1 + \dfrac{Rate}{100}\Bigg]^{Time}}}}}$

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

Solution:

★ Finding amount ::

By plugging all values in formula we get,

⇒ $\sf Amount = 18000\Bigg[1 + \dfrac{15.5}{100}\Bigg]^{2}$

⇒ $\sf Amount = 18000\Big[1 + 0.155\Big]^{2}$

⇒ $\sf Amount = 18000\Big[1.155\Big]^{2}$

⇒ $\sf Amount = 18000\:\times\:1.155\:\times\:1.155$

⇒ $\sf Amount = 18000\:\times\:1.334025$

➠ $\bf\pink{Amount = 24012.45}$

$\boxed{\sf{\therefore\:Amount\:\leadsto\:{\textsf{\textbf{Rs.\:24012.45}}}}}$

★ Finding compound interest (C.I) ::

By plugging all values in formula we get,

↦ $\sf Compound\:interest = 24012.45 - 18000$

➦ $\bf\green{Compound\:interest = 6012.45}$

$\boxed{\sf{\therefore\:Compound\:interest(C.I)\:\leadsto\:{\textsf{\textbf{Rs.\:6012.45}}}}}$

Learn more on brainly:

Question:

• If simple interest and compound interest of a certain sum of money for two years are RS. 8400 and RS. 8652 ,then find the sum of money and the rate of interest.

Answer:

• brainly.in/question/43043434

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