Find the compound interest on 16.000 for 2 years at 5%.
Answers
The answer of this question is 1640
Answer:
Rs. 1640
Step-by-step explanation:
S O L U T I O N :
\underline{\bf{Given\::}}
Given:
Principal, (P) = Rs.16000
Rate, (R) = 5% p.a
Time, (n) = 2 years
\underline{\bf{Explanation\::}}
Explanation:
As we know that formula of the compounded annually;
\boxed{\bf{Amount = Principal\bigg(1+\frac{R}{100} \bigg)^{n}}}
Amount=Principal(1+
100
R
)
n
A/q
\mapsto\tt{Amount = 16000\bigg(1+\dfrac{5}{100} \bigg)^{2}}↦Amount=16000(1+
100
5
)
2
\mapsto\tt{Amount = 16000\bigg(1+\cancel{\dfrac{5}{100}} \bigg)^{2}}↦Amount=16000(1+
100
5
)
2
\mapsto\tt{Amount = 16000\bigg(1+\dfrac{1}{20} \bigg)^{2}}↦Amount=16000(1+
20
1
)
2
\mapsto\tt{Amount = 16000\bigg(\dfrac{20+1}{20} \bigg)^{2}}↦Amount=16000(
20
20+1
)
2
\mapsto\tt{Amount = 16000\bigg(\dfrac{21}{20} \bigg)^{2}}↦Amount=16000(
20
21
)
2
\mapsto\tt{Amount = 16000\times \dfrac{21}{20} \times \dfrac{21}{20}}↦Amount=16000×
20
21
×
20
21
\mapsto\tt{Amount = \cancel{16000} \times \dfrac{21\times 21 }{\cancel{400}}}↦Amount=
16000
×
400
21×21
\mapsto\tt{Amount = Rs.(40 \times 21 \times 21)}↦Amount=Rs.(40×21×21)
\mapsto\bf{Amount = Rs.17640}↦Amount=Rs.17640
Now, as we know that compound Interest;
⇒ C.I. = Amount - principal
⇒ C.I. = Rs.17640 - Rs.16000
⇒ C.I. = Rs.1640
Thus,
The compound Interest will be Rs.1640
*Edit:-Sorry for your inconvenience
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