Question

Find the compound interest on ₹ 64000 for one year at the rate of 20% per annum, if the interest is compounded​

Answer 1

Step-by-step explanation:

We know formula for compound interest compounded quarterly

Amount=P(1+

n

r

)

nt

CompoundInterest=Amount−Principal

Given,

principal=Rs64000

Time=1year

Rate=10%

=64000(1+

4

.1

)

4

=64000(1.025)

4

=64000×1.10381

=70644.025

Amount is Rs70644.025

Compound interest will be=(70644.025-64000)=Rs6644.025

Answer 2

Appropriate Question :

• Find the compound interest on ₹ 64000 for one year at the rate of 20% per annum, if the interest is compounded annually .

⠀⠀⠀⠀⠀━━━━━━━━━━━━━━━━━━━⠀

Given : Principal is Rs.64,000 , Time is 1 yrs & Rate of Interest is 20 % .

Need To Find : Compound Interest .

⠀⠀⠀⠀⠀━━━━━━━━━━━━━━━━━━━⠀

⠀⠀⠀⠀⠀Finding Amount to find the Compound Interest :

⠀⠀⠀⠀Finding Amount if there is Simple - Interest :

$\dag\:\:\it{ As,\:We\:know\:that\::}$

$\qquad \dag\:\:\bigg\lgroup \sf{ Amount \:: P \bigg(1 + \dfrac{R }{100} \bigg)^T}\bigg\rgroup$

⠀⠀⠀⠀⠀Here P is the Principal, T is the Time & R is the Rate of Interest .

⠀⠀⠀⠀⠀⠀$\underline {\boldsymbol{\star\:Now \: By \: Substituting \: the \: known \: Values \::}}$

$\qquad \longmapsto \sf Amount = 64,000 \bigg( 1 + \dfrac{ 20 }{100} \bigg)^1$

$\qquad \longmapsto \sf Amount = 64,000 \bigg( 1 + \cancel {\dfrac{ 20 }{100}} \bigg)^1$

$\qquad \longmapsto \sf Amount = 64,000 \bigg( 1 + 0.2 \bigg)^1$

$\qquad \longmapsto \sf Amount = 64,000 \bigg( 1.2 \bigg)^1$

$\qquad \longmapsto \sf Amount = 64,000 \times 1.2$

$\qquad \longmapsto \frak{\underline{\purple{\:Amount = Rs. 76,800 }} }\bigstar$

Therefore,

⠀⠀⠀⠀⠀$\therefore {\underline{ \mathrm {\:Amount \: \:is\:\bf{Rs.\:\:76,800}}}}$

⠀⠀⠀⠀⠀━━━━━━━━━━━━━━━━━━━⠀

⠀⠀⠀⠀⠀Finding Compound Interest :

$\dag\:\:\it{ As,\:We\:know\:that\::}$

$\qquad \dag\:\:\bigg\lgroup \sf{ Compound\:Interest \:: Amount - Principal }\bigg\rgroup$

⠀⠀⠀⠀⠀Here , Amount is Rs. 76,800 & Principal is Rs.64,000

⠀⠀⠀⠀⠀⠀$\underline {\boldsymbol{\star\:Now \: By \: Substituting \: the \: known \: Values \::}}$

$\qquad \longmapsto \sf Compound \:Interest \::76,800 - 64,000$

$\qquad \longmapsto \frak{\underline{\purple{\:Compound \:Interest\:= \:Rs. 12,800 }} }\bigstar$

Therefore,

⠀⠀⠀⠀⠀$\therefore {\underline{ \mathrm {\:Compound \:Interest \: \:is\:\bf{Rs.\:\:12,800}}}}$

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