Question

Find the amount and the compound interest on 2000 at 10% p.a. for 2 years, compounded annually.​

Answer 1

Answer:

Compound Interest = $Rs 538.1$

Explaination:

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Answer 2

Given :

• Principal (P) = Rs 2000
• Time (n) = 2 years
• Rate (R) = 10% per annum

To Find :

• Amount
• Compound Interest

Formula :

$\red \bigstar \: {\underline \orange {\boxed{\mathcal {\pmb{\color{blue}\quad Amount \: = \: Principal \: \times \bigg(\:1 \: + \: \dfrac{Rate}{100}\bigg)^{n} \quad}}}}}$

$\red \bigstar \: {\underline \orange {\boxed{\mathcal {\pmb{\color{blue}\quad Compound \: Interest \: = \: Amount \: - \: Principal \quad}}}}}$

Solution :

${:} \longrightarrow \sf \: Amount \: = \: Principal \: \times \bigg(1 \: + \: \dfrac{Rate}{100}\bigg)^{n}$

${:} \longrightarrow \sf \: Amount \: = \: 2000 \: \times \bigg(1 \: + \: \dfrac{10}{100}\bigg)^{2}$

${:} \longrightarrow \sf \: Amount \: = \: 2000 \: \times \: \bigg(\dfrac{110}{100}\bigg)^{2}$

${:} \longrightarrow \sf \: Amount \: = \: 2000 \: \times \: \dfrac{110}{100} \: \times \: \dfrac{110}{100}$

${:} \longrightarrow \sf \: Amount \: = \: 2 \cancel{000} \: \times \: \dfrac{110}{1 \cancel{00}} \: \times \: \dfrac{11 \cancel0}{1 \cancel{00}}$

${:} \longrightarrow \sf \: Amount \: = \: 2 \: \times \: 110 \: \times \: 11$

${:} \longrightarrow \sf \: Amount \: = \: 110 \: \times \: 22$

${:} \longrightarrow \underline { \color{green} \boxed { \color{red} \bf \: Amount \: = \: Rs \: 2420 }} \color{navy} \: \: \bigstar$

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${:} \longrightarrow \sf \: Compound \: Interest \: = \: Amount \: - \: Principal$

${:} \longrightarrow \sf \: Compound \: Interest \: = \: 2420 \: - \: 2000$

${:} \longrightarrow \underline {\color{red}\boxed { \color{green} \bf \: Compound \: Interest \: = \: Rs \: 420 }} \color{pink} \: \: \bigstar$

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$\qquad \therefore\: \sf{ Amount \: = \underline {\underline{ Rs \: 2420}}}$

$\qquad \therefore\: \sf{ Compound \: Interest \: = \underline {\underline{ Rs \: 420}}}$

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