Question

Find the amount and the compound interest on a sum of Rs. 5000 for 2 year at the rate of 8% p. a.
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Answer 1

Answer:

Formula of SI = P×R×T/100

5000×8×2/100

80000/100

Ans=800

Answer 2

Given:

• Principal = ₹5000
• Time = 2 years
• Rate = 8% per annum

To Find:

• Amount?
• Compound interest?

Solution:

To find the Amount on the given sum of money (principal), required formula :

$\small{\sf{Amount~=~P\bigg(1+\dfrac{r}{100}\bigg)^n}}$

Here,

• P = Principal
• r = rate percent
• n = Time period

Putting value in formula:

$\small{\sf{Amount~=~P\bigg(1+\dfrac{r}{100}\bigg)^n}}$

$\implies\small{\sf{Amount~=~5000\bigg(1+\dfrac{8}{100}\bigg)^2}}$

$\implies\small{\sf{Amount~=~5000\bigg(\dfrac{100+8}{100}\bigg)^2}}$

$\implies\small{\sf{Amount~=~5000\times\dfrac{108}{100}\times\dfrac{108}{100}}}$

$\implies\small{\sf{Amount~=~5{\cancel{000}}\times\dfrac{108}{1{\cancel{00}}}\times\dfrac{108}{10{\cancel{0}}}}}$

$\implies\small{\sf{Amount~=~{\cancel{5}}\times 108\times\dfrac{108}{\cancel{10}}}}$

$\implies\small{\sf{Amount~=~108\times{\cancel{\dfrac{108}{2}}}}}$

$\implies\small{\sf{Amount~=~108\times 54}}$

$\implies\small{\sf{Amount~=~ 5832}}$

Therefore,

$\large{\boxed{\small{\sf{\pink{Amount~after~2~years~will~be~5832rs.}}}}}$

__________________

To find compound interest on given sum of money, required formula:

$\small{\sf{Compound~interest~=~Amount - principal}}$

Putting value in formula:

$\small{\sf{Compound~interest~=~Amount - principal}}$

$\implies\small{\sf{Compound~interest~=~5832 - 5000}}$

$\implies\small{\sf{Compound~interest~=~832}}$

Therefore,

$\large{\boxed{\small{\sf{\pink{Compound~interest~after~2~years~will~be~832rs.}}}}}$