Question

find the amount if p = ₹ 5000, R= 8 p.c.p.aN = 2 years with respect to compond interset compoundi​

Answer 1

Solution:-

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

◍ Here, the question has given us the principal, rate of interest and time that is Rs. 5,000, 8% per annum and for 2 years respectively. Now, the question has asked us to find the compound interest on it. So to get the answer we need to apply the formula of amount first then we will subtract the principal from amount to get CI.

ANSWER:-

◈ Amount = Rs. 5,832

◈ CI = Rs. 832

GIVEN:-

☆ Principal = Rs. 5,000

☆ Rate of Interest = 8% per annum

☆ Time = 2 years

TO FIND:-

↠Amount he will get back = ?

FORMULA:-

⬤ Amount = P[1 + (R / 100)]^t

⬤ CI = Amount - Principal

SOLVING BY APPLYING THE FORMULA:-

⇨ Principal = Rs. 5,000

⇨ Rate = 8%

⇨ Time = 2 years

⇨ Simple Interest = P × R × T / 100

➢ Amount = 5,000[1 + (8 / 100)]²

➢ Amount = 5,000[100 + 8 / 100]²

➢ Amount = 5,000[108 / 100]²

➢ Amount = 5,000 × 108/100 × 108/100

➢ Cancelling the zeros.

➢ Amount = 5 × 108² / 10

➢ Amount = 58,320 / 10

➢ Amount = 58,320 / 10 = 5,832

➢ Amount = Rs. 5,832

Thus, the amount is Rs. 5,832.

⇨ Compound Interest = Amount - Principal

➢ CI = 5,832 - 5,000

➢ CI = 5,832 - 5,000 = 832

➢ CI = Rs. 832

Hence, we got the answer. The CI is Rs. 832.

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Answer 2

Given :

• Principal (P) = Rs 5000
• Rate (R) = 8% p.a
• Time (n) = 2 years

To Find :

• Amount
• Compound interest

Formulas :

$\red \bigstar \: {\underline{\boxed{\mathcal {\pmb{\quad Amount \: = \: Principal \: \times \bigg(\:1 \: + \: \dfrac{Rate}{100}\bigg)^{n}\quad}}}}}$

$\red \bigstar \: {\underline{\boxed{\mathcal {\pmb{\quad Compound \: Interest \: = \: Amount \: - \: Principal \quad}}}}}$

Solution :

${:} \longrightarrow \sf \: Amount \: = \: Principal \: \times \bigg(\:1 \: + \: \dfrac{Rate}{100}\bigg)^{n} \\ \\ {:} \longrightarrow \sf \: Amount \: = \: 5000 \: \times \bigg(\:1 \: + \: \dfrac{8}{100}\bigg)^{2} \\ \\ {:} \longrightarrow \sf \: Amount \: = \: 5000 \: \times \bigg(\dfrac{108}{100}\bigg)^{2} \\ \\ {:} \longrightarrow \sf \: Amount \: = \: 5000\: \times \: \dfrac{108}{100} \: \times \: \dfrac{108}{100} \\ \\ {:} \longrightarrow \sf \: Amount \: = \: 5\cancel{000} \: \times \: \dfrac{108}{1 \cancel{00}} \: \times \: \dfrac{108}{10 \cancel{0}} \\ \\ {:} \longrightarrow \sf \: Amount \: = \: \dfrac{5 \: \times \: 108 \: \times \: 108}{10} \\ \\ {:} \longrightarrow \sf \: Amount \: = \: \dfrac{5 \: \times \: 11664}{10} \\ \\ {:} \longrightarrow \sf \: Amount \: = \: \dfrac{58320}{10} \\ \\ {:} \longrightarrow \underline{\boxed{\sf \: Amount \: = \: Rs \: 5832}} \: \blue \bigstar$

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$\longmapsto {\pmb{ Compound \: Interest \: = \: Amount \: - \: Principal} } \\ \\ \longmapsto {\sf{ Compound \: Interest \: = \: 5832 \: - \: 5000} } \\ \\ \longmapsto \underline{\boxed{\pmb{ \red{ Compound \: Interest \: = \:Rs \:832} }}}$

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$\qquad \therefore\: \sf{ Amount \: = \underline {\underline{ Rs \: 5832}}}$

$\qquad \therefore\: \sf{ Compound \: Interest\: = \underline {\underline{ Rs \: 832}}}$

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