Question

Find the amount of Rs. 12000 after 2 years compounded annually, the rate of interest being 5% p.a. Also, find the compound interest.​
the above answer is 13230 anount and compound interest is 1230 ​

Answer 1

Answer:

P=Rs.12000,Time=2 Years,Rate=5% and 6%

A=P(1+

100

R

)

T

⇒12000(1+

100

5

)(1+

100

6

)

⇒12000×

100

105

×

100

106

⇒13356Rs

C.I=A−P

⇒13356−12000=1356Rs.

Answer 2

Given: The sum of Rs. 12000 is compounded annually for 2 years at 5% p.a.

To find: Amount and compound interest

Explanation: Principal= Rs. 12000

Rate= 5% p.a.

Time= 2 years

When a sum is compounded annually,

$amount =principal ({1 + \frac{r}{100} })^{2}$

$amount = 12000( {1 + \frac{5}{100} })^{2}$

$amount = 12000 ({ \frac{21}{20} })^{2}$

= 12000 * (441/400)

= 13230

Now,

compound interest= Amount- Principal

= 13230-12000

= 1230

Therefore, the amount when Rs. 12000 is compounded annually is Rs. 13230 and compound interest on it is Rs. 1230.