Question

find the amount of Rs 5000 for 2 years, compounded annually at 10 % per annum . also find the compound interset​

Answer 1

Answer:

So, the compound interest on ₹5000 for 2 years at the rate of 10% is ₹1050 .

Answer 2

The compound Interest is Rs.1050

Explanation:

Given:

1. Principal =Rs.5000

2. No.of Years = 2 Years

3. Rate of Interest = 10%

To find:

1. The Amount

2. Compound Interest

Formula:

Compound Annually

$Amount=P[1+\frac{r}{100} ]^{n}$

Compound Interest =  Amount - principal

Solution:

==> Apply the given value in the formula

==>  $Amount=P[1+\frac{r}{100} ]^{n}$

==>  $Amount=5000[1+\frac{r}{100} ]^{n}$

==>  $Amount=5000[1+\frac{10}{100} ]^{2}$

==>  $Amount=5000[\frac{110}{100} ]^{2}$

==> $Amount=5000[\frac{11}{10} ]^{2}$

==> $Amount=5000[\frac{11}{10} \times\frac{11}{10} ]$

==> Amount = 50 ×11×11

==> Amount = 50 × 121

==> Amount = Rs. 6050

==> C.I = Amount - principal

==> C.I = Rs.6050 - Rs.5000

==> C.I = Rs. 1050

==> The compound Interest is Rs.1050