Question

Find the amount and the compound interest on Rs. 4000 for 2 years at 16% per annum.​

Answer 1

Amount = Rs. 4679.43, Compound Interest = Rs. 679.43

Step-by-step explanation:

Principal, P = Rs. 4000

Time, T = 1 year

Rate of Interest, R16 % p.a.

Now,

Amount, A = P(1+ R/400)^4t

A = 4000 (1+ 16/400 ) ^ 4

A = 4000 ( 1.04)^ 4

A = 4000 * 1.04 * 1.04 * 1.04 * 1.04

Amount = Rs. 4679.43 (approx.)

So,

Compound Interest, CI = A -P

CI = 4679.43 - 4000

CI = Rs. 679.43

Answer 2

Step-by-step explanation:

I=Rs.4000

T=2years

R=16percent

A=?

we know

p=I×100

• 100+TR
• 4000×100
• 100+2×16

400000

100+32

400000

132

3030.31

Now

A=P+I

A=3030.31+4000

7030.31