Question

find the compound interest on rs. 1,55,000 invested at 4% per annum compounded anually for 2 years

Answer 1

Step-by-step explanation:

1

st

year

Principal, P=Rs.5000

Time, T=1 year

Rate of interest ,R=6%

∴simple Interest, SI=

100

PTR

=

100

5000×10×6

=Rs.300

∴Amount=P+SI=Rs.5300

2nd year

Principal = Amount of 1st year=Rs.5300

Rate of interest =8%

Time =1 year

∴ Interest =

100

5300×1×8

=Rs.424

∴ Amount =Rs.(5300+424)=Rs.5724

The interest of 2nd year is the required compound interest. So, C.I=rs.424 and the required amount is Rs.5724

Answer 2

Given :-

• Rs. 1,55,000 is invested at 4% per annum compounded annually for 2 years

To Find :-

• Find the 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. 1,55,000

• The rate ( R ) is 4 %  

• The time ( n )  is 2 years  

• The amount will be ( A )  

• Compound Interest be ( CI )  

As we know that ,  

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

Finding the Amount :-  

$\sf \implies A = 155000 \bigg\{ 1 + \dfrac{4}{100} \bigg\}^{2}$ 

$\sf \implies A = 155000 \bigg\{ \dfrac{104}{100} \bigg\}^{2}$

$\sf \implies A = 155000 \times \dfrac{104}{100} \times \dfrac{104}{100}$ 

$\sf \implies A = 31 \times 104 \times 52$  

$\sf \implies A = Rs. \; 1,67,648$  

Finding the compound interest :-

$\sf \bullet \;\; CI = A -P$  

$\sf \implies CI = 1,67,648 - 1,55,000$  

$\sf \implies CI = Rs. \; 12,648$

Hence,  

• The Compound Interest is Rs. 12648