Question

Find the amount and the interest on Rs. 16000 for 3 years at 5% per annum compounded annually.

Answer 1

Answer:

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Answer 2

Solution :

$\bf{\red{\underline{\bf{Given\::}}}}$

• Principal, (P) = Rs.16000
• Rate, (R) = 5% p.a
• Time, (n) = 3 years

$\bf{\red{\underline{\bf{To\:find\::}}}}$

The amount of the compound annually.

$\bf{\red{\underline{\bf{Explanation\::}}}}$

We know that formula of the Compounded annually :

$\bf{\boxed{\tt{A=P\bigg(1+\frac{R}{100} \bigg)^{n} }}}}$

A/q

$\longrightarrow\sf{A=16000\bigg(1+\cancel{\dfrac{5}{100}} \bigg)^{3} }\\\\\\\longrightarrow\sf{A=16000\bigg(1+\dfrac{1}{20} \bigg)^{3} }\\\\\\\longrightarrow\sf{A=16000\bigg(\dfrac{20+1}{20} \bigg)^{3} }\\\\\\\longrightarrow\sf{A=\cancel{16000} \times \dfrac{21}{\cancel{20}} \times \dfrac{21}{\cancel{20}} \times \dfrac{21}{\cancel{20}} }\\\\\\\longrightarrow\sf{A=Rs.(2\times 21\times 21\times 21)}\\\\\\\longrightarrow\sf{\pink{A=Rs.18522}}$

We know that compound Interest :

$\longrightarrow\sf{C.I.=A-P}\\\\\longrightarrow\sf{C.I.=Rs.(18522-16000)}\\\\\longrightarrow\sf{\pink{C.I.=Rs.2522}}$

Thus;

$\underline{\sf{The\:amount\:and\:Interest\:of\:the\:Compounded\:annually=Rs.18522\: \& \:Rs.2522}}}}$