Math, asked by atharvchavan051, 2 months ago

Find the amount on a sum of 2000, for two years when the interest is compounded annually at 10%
per annum​

Answers

Answered by OtakuSama
69

 \huge{ \underbrace{ \text{Question}}}

  • Find the amount on a sum of 2000, for two years when the interest is compounded annually at 10% per annum.

 \huge{ \underbrace{ \text{Answer}}}

Given:-

 \sf{ \rightarrow{Principle \: amount \: P= 2000}}

 \sf{ \rightarrow{Time \: t = 2 \: years}}

 \sf{ \rightarrow{Rate \: of \: interest \: r = 10\% =  \frac{10}{100}  = 0.01}}

To find:-

 \sf{ \rightarrow{Total \: amount \: A = ?}}

Solution:-

We know that,

 \boxed{ \sf{ \blue{Total \: amount \: A= P{(1 + r)}^{t}}}}

Where,

  • A stands for Total Amount
  • P stands for Principle Amount
  • r stands for Rate of interest
  • t stands for number of time

According to the question,

 \sf{ \bold{Total \: amount \: A}} = 2000{(1 + 0.1 ) }^{2}\\  \\  \\  \sf{ \rightarrow{ \bold{Total \: amount \: A }}}= 2000 {(1.1)}^{2} \\  \\  \\  \sf{ \rightarrow { \bold{Total \: amount \: A}}} = 2000 \times 1.21 \\  \\  \\ \sf{ \rightarrow { \bold{Total \: amount \: A}}} =  \orange{2420}

  \underline{ \boxed{ \rm{ \star{Hence, \: the \: amount \: is \: 2420}}}}

More Information:-

 \sf{ \bold{Simple \: interest \: I }}=  \blue{Prt}

 \sf{ \bold{Compound \: interest \: C}} =  \blue{P(1 + r)  {}^{t} - P}

❖ Hope this helps you!!

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