Question

Find the compound interest on 39000 invested for 2 years at the rate of 10 p.c.p.a?​

Answer 1

Given :-

Principal amount is Rs 39,000  

Rate of interest is 10 pcpa  

Time is 2 years

To Find :-

Compound Interest

Solution :-

~Here, we’re given the principal , rate of interest and time for which the money is invested and we need to find the Compound Interest ( CI ) after the given time. We can easily find the amount by putting the values in it’s formula and then Compound Interest.  

_____________

Here,  

• The principal  ( P ) is Rs. 39,000

• The rate ( R ) is 10 %  

• The time ( n )  is 2 years  

• The amount will be ( A )  

• Compound Interest be ( CI )  

_____________

As we know that ,

$\boxed{\sf{ \maltese \;\; A = P \bigg\{ 1 + \dfrac{R}{100} \bigg\}^{n} }}$

$\boxed{ \sf { \maltese \;\; CI = A -P }}$

Finding the Amount :-

$\sf \dashrightarrow A = 39,000 \bigg\{ 1 + \dfrac{10}{100} \bigg\}^{2}$

$\sf \dashrightarrow A = 39,000 \bigg\{ \dfrac{11}{10} \bigg\}^{2}$

$\sf \dashrightarrow A = 39,000 \times \dfrac{11}{10} \times \dfrac{11}{10}$

$\sf \dashrightarrow A = 390 \times 11 \times 11$

$\boxed{\bf{ \bigstar \;\; Amount = Rs. \; 47,190 }}$

Finding the Compound Interest :-  

$\sf \dashrightarrow CI = Rs. \; 47,190 -39,000$

$\boxed{ \bf { \bigstar \;\; Compound\;Interest = Rs. \; 8,190 }}$

_____________

Hence,  

• The compound interest is Rs. 8,190  

Answer 2

Step-by-step explanation:

Principal amount (P) = Rs.39000

Rate of interest (R) = 10%

Time period (T) = 2 years

Mode of compounding = Annually

In order to find the compound interest when the principal amount is compounded annually, we need to implement the formula given below:

⟹A=P(1+R/100)^n

Applying the formulae into the equation:

⟶A=39000(1+10/100)^2

⟶A=39000(1+1/10)^2

⟶A=39000×10/11×10/11

⟶A=390×11×11

⟶A=390×121

⟶A=47,190

The total amount is Rs.47,190.

Now, in order to find the C.I amount:

⟹C.I=A−P

Applying the values into the formula:

⟶C.I=47,190-39000

⟶C.I=8,190

Therefore, the Compound interest amount is Rs.8,190