Question

Find the amount and compound interest for: (c) Principal = ₹2500, Rate= 12% p.a., Time = 2 years​

Answer 1

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Answer 2

Answer:

• Amount = Rs. 3136
• Compound Interest = Rs. 636

Step-by-step explanation:

Given:

• Principal amount (P) = ₹ 2500
• Time (n) = 2 years
• Rate (R) = 12%

To Find:

• Amount.
• Compound interest.

Formula used:

• $\sf{Amount\;(A)=P\Bigg(1+\dfrac{R}{100}\Bigg)^{n}}$

• Compound interest (CI) = Amount - Principal amount

Now, first we will calculate amount.

$\sf{\implies Amount\;(A)=P\Bigg(1+\dfrac{R}{100}\Bigg)^{n}}\\ \\ \\ \sf{\implies Amount\;(A)= 2500\Bigg(1+\dfrac{12}{100}\Bigg)^{2}}\\ \\ \\ \sf{\implies Amount\;(A)=2500\Bigg(\dfrac{100+12}{100}\Bigg)^{2}}\\ \\ \\ \sf{\implies Amount\;(A)=2500\Bigg(\dfrac{112}{100}\Bigg)^{2}}\\ \\ \\ \sf{\implies Amount\;(A)=2500(1.12)^{2}}\\ \\ \\ \sf{\implies Amount\;(A)=2500 \times 1.25}\\ \\ \\ \boxed{\bf{\implies Amount\;(A)= Rs.\; 3,136}}$

Now, we will calculate compound interest (CI).

⇒ Compound interest (CI) = Amount - Principal amount

⇒ Compound interest (CI) = 3136 - 2500

⇒ Compound interest (CI) = Rs. 636.