Question

Find the amount for Rs.4000/- for 2 years at the rate of 8% per annum.​

Answer 1

Step-by-step explanation:

       Compound interest when compounded half yearly:

       interest rate for 6 months = 8/2 = r = 4%

       number of times compounded = n= 4 in 2 years

       C I = P (1+ r/100)^n - 4000  = 4, 000 (1 + 0.04 )^4 - 4000

         Compound interest when compounded yearly

       interest rate for 12 months = r = 8%

       number of times compounded , n= 2 in 2 years

       C I = P (1+ r/100)^n - 4000  = 4, 000 (1 + 0.08 )^2 - 4000

 

Difference = Rs 4,000 [ 1.04^4  - 1.08^2 ]

               = Rs 4, 000 × 0.00345856 = Rs 13.83  

Answer 2

Solution:-

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

$\longmapsto$ Here it is given in the question that the principal, rate of interest and time is Rs. 4000/-, 8% and 2 years respectively. Now the question has asked us to find out the amount. So, to find out the amount we will first find the Simple Interest. Then we will add the principal and the simple interest the sum will be the amount.

ANSWER:-

⪼ Simple Interest is Rs. 640.

⪼ Amount is Rs. 4640.

GIVEN:-

⇝ Principal = Rs. 4000/-

⇝ Rate of interest = 8%

⇝ Time = 2 years

TO FIND:-

» Amount

SOLVING STEP BY STEP:-

• To find the amount, first of all we need to find out the Simple Interest.
• We need to the put the values in a certain formula to get the Simple Interest.

We know that:-

$\underline{\boxed{\rm \bigstar SI = \dfrac{P \times R \times T}{100} }}$

Here,

• P = Rs. 4000/-
• R = 8%
• T = 2

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So, Let's find the simple interest first.

• Finding the simple interest:-

$\to \sf{SI = \dfrac{4000 \times 8 \times 2}{100}}$

$\to \sf{SI = \dfrac{4000 \times 16}{100}}$

$\to \sf{SI = \dfrac{64000}{100}}$

$\to \sf{Cancelling \: the \: zeros.}$

$\to \sf{SI = \dfrac{640\not{0} \not{0}}{1 \not{0} \not{0}}}$

$\to \sf{SI = \dfrac{640}{1}}$

$\overline{\boxed{\rm \dag SI = Rs. \: 640 }}$

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• As we got the simple interest, now we will find the amount.
• We have to add the principal and the Simple Interest in order to get the amount.

We know that:-

$\underline{\boxed{\rm \bigstar Amount = P + SI}}$

Here,

• P = Rs. 4000/-
• SI = Rs. 640

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• Finding the Amount:-

$\to\sf{A = 4000 + 640}$

$\to\sf{A = 4000 + 640 = 4640}$

$\overline{\boxed{\rm \dag Amount = Rs. \: 4640 }}$

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Abbreviations used:-

• P = Principal
• R = Rate of interest
• T = Time
• SI = Simple Interest
• A = Amount

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