Question

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

Answer 1

5000*2*6/100=600 this is the answer........

Answer 2

$\huge\underline\mathrm{SOLUTION:-}$

AnswEr:

• The Amount = Rs. 5,618
• The Compound Interest = 618

Given Information:

• P = Rs. 5,000
• R = 6%
• T = 2 years

Need To Find:

• The Amount = ?
• The Compound Interest = ?

ExPlanation:

In Case 1:

Need To Find:

• The Amount = ?

Formula used here:

• Amount = P(1 + R/100)^n

Putting the values according to the given formula:

➠ Amount = 5000[1 + (6/100)]^2

➠ Amount = 5000[(100 + 6)/100]^2

➠ Amount = 5000[106/100]^2

➠ Amount = 5000[1.06]^2

➠ Amount = 5000 × 1.1236

➠ Amount = 5,618

• Therefore, the amount will be Rs. 5618

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In Case 2:

Need To Find:

• The compound interest = ?

Formula used here:

• CI = A - P

Putting the values according to the given formula:

➠ CI = 5618 - 5000

➠ CI = 618

• Therefore, the compound interest will be 618.

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Additional Information:

HeRe,

• P is used for Principal.
• R is used for Rate.
• T is used for Time.
• A is used for Amount.
• CI is used for Compound Interest.

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