Question

Find the amount and the compound interest. When Principal is Rs 5000 , Rate of Interest is 8p.c.p.a and Duration is 3 years.

Answer 1

Answer:

तुम सबको लिया क्या खुद करो नहीं दूसरों को तो कर लेना खुद भी नहीं करते खुद से पूछना दूसरों को क्या बोलता है

Answer 2

Solution:-

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$\large\to{\underbrace{\underline{\sf{Understanding\:the\:concept:-}}}}$

◍ Here, the question has given us the principal, rate and time that is Rs. 5,000, 8% and for 3 years respectively. Now, the question has asked us to find the interest and the amount.

NOTE:- Whenever p.c.p.a is given in the question we always have to find the compound interest.

★ HOW TO DO:-

◍ Here we are asked to find the compound interest and amount. So, to find the compound interest first of all we need to find out the amount. After getting the amount when we will subtract the principal from the amount we will get the compound interest. So, now follow the steps to get the answer.

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ANSWER:-

◈ Amount is Rs. 6298.56.

◈ The compound interest is 1298.56.

GIVEN:-

☆ Principal = Rs. 5,000

☆ Rate of interest = 8%

☆ Time = 3 years

TO FIND:-

↠ Here we have to find out the Compound Interest and the Amount.

SOLVING STEP BY STEP:-

• We need to apply a certain formula to find the amount.
• So, to get the compound interest let's find the amount first.

We know that:-

$\pink \bigstar \: \underline{\boxed{\rm \purple {Amount = Principal \Bigg(1 + \dfrac{Rate}{100} \Bigg)^{Time}}}}$

Where,

☆ Principal = Rs. 5,000

☆ Rate of interest = 8%

☆ Time = 3 years

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So, let's solve it!

• Finding the amount:-

Amount = 5000(1 + 8 / 100)³

Taking the L.C.M:-

L.C.M is 100.

On simplifing:-

Amount = 5000(100 + 8 / 100)³

Adding the terms:-

Amount = 5000(108 / 100)³

Removing the cube:-

Amount = 5000 × 1259712 / 1000000

Cancelling the zeros:-

Amount = 5 × 1259712 / 1000

Multiplying the terms:-

Amount = 6298560 / 1000

Cancelling the zeros:-

Amount = 629856 / 100

Dividing the terms:-

Amount = 629856 / 100 = 6298.56

$\pink\odot \: \overline {\boxed{\tt \blue{Amount = Rs.6298.56}}}$

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• As we got the amount now by subtracting the principal from the amount we will get the compound interest.

We know that:-

$\pink {\bigstar} \: \underline{\boxed{\rm\purple{Compound\: Interest = Amount - Principal}}}$

Where,

• Principal = Rs. 5000
• Amount = Rs. 6298.56

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So let's solve it!

• Finding the compound interest:-

$\dashrightarrow \tt{Compound\:Interest = 6298.56 - 5000}$

$\dashrightarrow \tt{Compound\:Interest = 6298.56 - 5000 = 1298.56}$

$\green\odot \: \overline {\boxed{\tt \blue{Compound\: Interest = Rs.1298.56}}}$

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