Question

Find the compound interest at the rate of 10% per annum for 4 years on the principal

which is 4 years at the rate of 4% per annum gives Rs 1600 as simple interest.​

Answer 1

Compound interest = 4641

Answer 2

$\bf\underline{Question:-}$

Find the compound interest at the rate of 10% per annum for 4 years on the principal which is 4 years at the rate of 4% per annum gives Rs 1600 as simple interest.

$\bf\underline{Given:-}$

• Simple Interest = Rs.1600

• Time = 4 years

• Rate of Interest = 4%

$\bf\underline{To\:find:-}$

•Compound Interest = ?

•Principal = ?

•Amount = ?

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$\bf\underline{Solution:-}$

$\sf \implies P = \dfrac{SI\times 100}{R\times T}$

$\sf \implies P = \dfrac{1600\times 100}{4 \times 4}$

$\sf\implies P = \dfrac{160000}{16}$

$\sf\implies P = \cancel\dfrac{160000}{16}$

$\sf\implies P = 10000$

Principal = Rs.10000

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$\sf Amount = Principal {( 1+\dfrac{Rate}{100})}^{Time}$

$\sf \implies Amount = 10000{(1+\dfrac{10}{100})} ^4$

$\sf \implies Amount = 10000\times\dfrac{11}{20}\times\dfrac{11}{20}\times\dfrac{11}{20}\times\dfrac{11}{20}$

$\sf \implies Amount = 14641$

Amount = Rs.14641

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$\sf \implies CI = Amount- Principal$

$\sf \implies CI = 14641 - 10000$

$\sf \implies CI = 4641$

Therefore, Compound Interest = Rs.4641

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