Question

Find the amount and the compound interest on 2000 at 10% p.a. for 2 and a half years, compounded annually.
Ans is 2541; 541
Don't use p(1+r/100) formula as it is not needed​

Answer 1

Answer:

1. Amount after 2 and half year is Rs 2541.
2. Compound interest after 2 and half year is Rs 541.

Step-by-step explanation:

Given that:

• Principal = Rs 2000
• Rate = 10% p.a.
• Time = 2.5 years

To Find:

• The amount and the compound interest.

Finding the amount:

For first year,

• Principal = Rs 2000
• Rate = 10% p.a.

Amount = 2000 + 10% of 2000

Amount = 2000 + 200

Amount = 2200

For second year,

• Principal = Rs 2200
• Rate = 10% p.a.

Amount = 2200 + 10% of 2200

Amount = 2200 + 220

Amount = 2420

For last half year,

• Principal = Rs 2420
• Rate = 10/2 = 5%

Amount = 2420 + 5% of 2420

Amount = 2420 + 121

Amount = 2541

∴ Amount after 2 and half year = Rs 2541

Finding the compound interest:

Compound interest = Amount - Principal

Compound interest = Rs (2541 - 2000)

Compound interest = Rs 541

∴ Compound interest after 2 and half year = Rs 541

Answer 2

Answer:

SoLuTiOn :-

We have

$\begin{cases} \sf \: Time \: = \frak{2 \dfrac{1}{2} \: year} \\ \sf Principal = \frak{2000} \\ \sf Rate = \frak{10\%} \end{cases}$

For 1st year

Amount = 2000 + 10/100 × 2000

Amount = 2000 + 10 × 20

Amount = 2000 + 200

Amount = ₹2200

For 2nd year

Amount = 2200 + 10/100 × 2200

Amount = 2200 + 10 × 22

Amount = 2200 + 220

Amount = 2420

For 2½ year

Rate = 10/2

Rate = 5%

Amount = 2420 + 5/100 × 2420

Amount = 2420 + 5/10 × 242

Amount = 2420 + ½ × 242

Amount = 2420 + 121

Amount = 2541