Question

find the amount and the compound interest on 5000 for 2 years at 6% per annum,interest payable yearly.​

Answer 1

Given :-

• The compound interest on 5000 for 2 years at 6% per annum interest payable yearly.

To Find :-

• The amount

Formula :-

We know that,

$\boxed{\sf C.i. = p \: (\frac{1 + r}{100}) \: n - p}$

Solution :-

We have,

• P = 5000
• R = 6
• T = 2

Substitute the values we get,

$\sf= 5000 \: (1 + \frac{6}{100}) \: 2 - 5000 \\ \\ \sf= 5000 \times \frac{106}{100} \times \frac{106}{100} - 5000 \\ \\ \sf = 5618 - 5000 \\ \\ = \boxed{\sf 618}$

Answer :-

• 618 C.i.

Answer 2

Aɴsᴡᴇʀ:

• The amount = Rs.5618
• The compound interest = Rs.618

Gɪᴠᴇɴ:

• Principal = Rs. 5000
• Interest = 4% per annum
• Time = 2 years

Nᴇᴇᴅ Tᴏ Fɪɴᴅ:

• The amount = ?
• The compound interest = ?

Solution:

♲︎︎ In Case 1:

Fᴏʀᴍᴜʟᴀ ᴜsᴇᴅ ʜᴇʀᴇ:

• Amount = P(1+R/100)^N

Pᴜᴛᴛɪɴɢ ᴛʜᴇ ᴠᴀʟᴜᴇs:

➦ Amount = 5000 × (1 + 6/100)²

➦ Amount = 5000 × (100 + 6/100)²

➦ Amount = 5000 × (606/100)²

➦ Amount = 5000 × (53/50)²

➦ Amount = 5618

Hᴇɴᴄᴇ:

• The amount is Rs.5618.

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♲︎︎ In Case 2:

Fᴏʀᴍᴜʟᴀ ᴜsᴇᴅ ʜᴇʀᴇ:

• Interest = Amount - Principal

Pᴜᴛᴛɪɴɢ ᴛʜᴇ ᴠᴀʟᴜᴇs:

➦ Compound Interest = 5618 - 5000

➦ Compound Interest = 618

Tʜᴇʀᴇғᴏʀᴇ:

• The compound interest is Rs.618.

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