Question

find the amount and compound interest on rupees 6000 for 2 years at 9% per annum

Answer 1

The amount is Rs. 7128.60 and the interest is Rs. 1128.60 ......

Answer 2

Answer:

$:\implies\sf Amount = P \bigg\lgroup 1 + \dfrac{R}{100}\bigg\rgroup^{n}$

$:\implies\sf Amount = 6000 + \bigg\lgroup 1 + \dfrac{9}{100}\bigg\rgroup^2$

$:\implies\sf Amount = 6000 \big\lgroup 1 + 0.09\big\rgroup^2$

$:\implies\sf Amount = 6000 \big\lgroup 1.09\big\rgroup^2$

$:\implies\sf Amount = 6000 \big\lgroup 1.1881\big\rgroup$

$:\implies \underline{ \boxed{\sf Amount =Rs. \: 7128.60 }}$

$\therefore\:\underline{\textsf{The Amount is \textbf{Rs. 7128.60}}}.$

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⠀

$\dashrightarrow\:\:\sf Compound \: Interest = Amount - Principal$

$\dashrightarrow\:\:\sf Compound \: Interest = 71286.60 - 6000$

$\dashrightarrow\:\:\underline{\boxed{\sf Compound \: Interest = 1128.6}}$

$\therefore\:\underline{\textsf{The Compound Interest is \textbf{Rs. 112.86}}}.$