Question

find the compound interest on 10,000 at 4% per annum for 2 years.​

Answer 1

Given :

• Principal = Rs. 10000

• Rate = 4%

• Time = 2 years

To Find :

• Compound interest

Solution :

✬ Here is The Question Principal, rate of intrerst and time is given. We, have to find the Compound interest To find Compound interest Firstly, we need to Find the Amount that is P (1 + R/100)ⁿ. After Getting the Amount we can find the Compound interest that is Amount - Principal. By Putting values in the formula we will The Required Compound interest.

Formula Used :

• Amount = P(1 + R/100)ⁿ

• C.I = Amount - Principal

Let's Find Out..!

Amount = P(1 + R/100)ⁿ

Where,

• ⇝ Principal (P) = Rs 10000

• ⇝ Rate (R) = 4%

• ⇝ Time (n) = 2 years.

⟶ Amount = 10000 (1 + 4/100)²

⟶ Amount = 10000 × (104/100)²

⟶ Amount = 10000 × 104/100 × 104/100

⟶ Amount = 104 × 104

⟶ Amount = Rs. 10816

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Now, Compound interest

C.I = Amount - Principal

⟶ C.I = 10816 - 10000

⟶ C.I = Rs.816

∴ Compound interest is Rs.816

Answer 2

Given :

• Principal (P) = Rs 10000
• Time (n) = 2 years
• Rate (R) = 4% per annum

To Find :

• Compound Interest

Formula :

$\red \bigstar \: {\underline \orange {\boxed{\mathcal {\pmb{\color{aqua}\quad Amount \: = \: Principal \: \times \bigg(\:1 \: + \: \dfrac{Rate}{100}\bigg)^{n} \quad}}}}}$

$\red \bigstar \: {\underline \orange {\boxed{\mathcal {\pmb{\color{aqua}\quad Compound \: Interest \: = \: Amount \: - \: Principal \quad}}}}}$

Solution :

${:} \longrightarrow \sf \: Amount \: = \: Principal \: \times \bigg(1 \: + \: \dfrac{Rate}{100}\bigg)^{n}$

${:} \longrightarrow \sf \: Amount \: = \: 10000 \: \times \bigg(1 \: + \: \dfrac{4}{100}\bigg)^{2}$

${:} \longrightarrow \sf \: Amount \: = \: 10000 \: \times \: \bigg(\dfrac{104}{100}\bigg)^{2}$

${:} \longrightarrow \sf \: Amount \: = \: 10000 \: \times \: \dfrac{104}{100} \: \times \: \dfrac{104}{100}$

${:} \longrightarrow \sf \: Amount \: = \: 1 \cancel{00} \cancel{00} \: \times \: \dfrac{104}{1 \cancel{00}} \: \times \: \dfrac{104}{1 \cancel{00}}$

${:} \longrightarrow \sf \: Amount \: = \: 104 \: \times \: 104$

${:} \longrightarrow \underline {\boxed { \color{lime} \bf \: Amount \: = \: Rs \: 10816 }} \color{navy} \: \: \bigstar$

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${:} \longrightarrow \sf \: Compound \: Interest \: = \: Amount \: - \: Principal$

${:} \longrightarrow \sf \: Compound \: Interest \: = \: 10816 \: - \: 10000$

${:} \longrightarrow \underline {\boxed { \color{aqua} \bf \: Compound \: Interest \: = \: Rs \: 816 }} \color{pink} \: \: \bigstar$

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$\qquad \therefore\: \sf{ Amount \: = \underline {\underline{ Rs \: 10816 }}}$

$\qquad \therefore\: \sf{ Compound \: Interest \: = \underline {\underline{ Rs \: 816}}}$

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