Question

Find the amount to be paid at the end of two years on Rs 2400 at 5% per annum compounded annually *

Answer 1

$\sf{\underline{\boxed{\large{\blue{\mathsf{Solution}}}}}}$

$\sf{\bold{\green{\underline{\underline{Given}}}}}$

• Principle = Rs. 2400
• Rate = 5%
• Time = 2years

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$\sf{\bold{\green{\underline{\underline{To\:Find}}}}}$

• Amount = ???

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$\sf{\bold{\green{\underline{\underline{Solution}}}}}$

$\sf{\red{\boxed{\bold{Amount = p ( 1 + \dfrac{r}{100})^t}}}}$

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: $\sf\implies \: {\bold{ Amount = 2400 ( 1 + \dfrac{5}{100})^2}}$

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: $\sf\implies \: {\bold{ Amount = 2400 ( 1 + \dfrac{1}{20})^2}}$

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: $\sf\implies \: {\bold{ Amount = 2400 ( \dfrac{20 + 1 }{20})^2}}$

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: $\sf\implies \: {\bold{ Amount = 2400 ( \dfrac{21}{20})^2}}$

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: $\sf\implies \: {\bold{ Amount = 2400 ( \dfrac{21}{20} \times \dfrac{21}{20})}}$

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: $\sf\implies \: {\bold{ Amount = 240( \dfrac{21\times 21}{20\times 2})}}$

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: $\sf\implies \: {\bold{ Amount = 24( \dfrac{21\times 21}{2\times 2})}}$

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: $\sf\implies \: {\bold{ Amount = 12( \dfrac{21\times 21}{2})}}$

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: $\sf\implies \: {\bold{ Amount = 6 \times 21\times 21}}$

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: $\sf\implies \: {\bold{ Amount = Rs.2646}}$

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$\sf{\pink{\boxed{\bold{\dag Amount = Rs. 2646}}}}$

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$\sf{\bold{\green{\underline{\underline{Answer}}}}}$

• Rs. 2400 will amount to Rs.2646 in 2 years at 5% per annum

Answer 2

Aɴsᴡᴇʀ:

• The required amount = Rs. 2646

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Gɪᴠᴇɴ:

• Principal (P) is Rs. 2400
• Rate (R) is 5%
• Time (T) is 2 years

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Nᴇᴇᴅ Tᴏ Fɪɴᴅ:

• The required amount = ?

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Solution:

Fᴏʀᴍᴜʟᴀ ᴜsᴇᴅ ʜᴇʀᴇ:

• ${\underline{\boxed{\sf{Amount = P\bigg(1 + \dfrac{r}{100}\bigg)^t }}}}$

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Pᴜᴛᴛɪɴɢ ᴛʜᴇ ᴠᴀʟᴜᴇs:

$\longrightarrow \sf {Amount = 2400 \bigg(\dfrac{21}{100}\bigg)^2}$

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$\longrightarrow \sf {Amount = 2400 \bigg(\dfrac{5}{20}\bigg)^2}$

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$\longrightarrow \sf {Amount = 2400 \times \dfrac{21}{20} \times \dfrac{21}{20}}$

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$\longrightarrow \sf {Amount = (6 \times 21 \times 21)}$

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$\longrightarrow \boxed{\sf{\purple{Amount = Rs.\:2646}}}$

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Tʜᴇʀᴇғᴏʀᴇ:

• The required amount is Rs. 2646.

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