Question

find the compound interest on rs. 20,000 in 2 years at the rate of 15 p.c.p.a​

Answer 1

Given :-

• Rs. 20,000 is invested for  2 years at the rate of 15 p.c.p.a

To 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.  

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Here,  

• The principal  ( P ) is Rs. 20,000

• The rate ( R ) is 15 %  

• The time ( n )  is 2 years  

• The amount will be ( A )  

• Compound Interest be ( CI )  

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As we know that ,

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

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

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Finding the Amount :-  

$\sf \implies A = 20,000 \bigg\{ 1 + \dfrac{15}{100} \bigg\}^{2}$

$\sf \implies A = 20,000 \bigg\{ \dfrac{115}{100} \bigg\}^{2}$  

$\sf \implies A = 20,000 \times \dfrac{115}{100} \times \dfrac{115}{100}$

$\sf \implies A = 2 \times 115 \times 115$

$\boxed{\sf{ \star \;\; Amount = Rs. \; 26,450 }}$

Finding the Compound Interest :-  

$\sf \implies CI = 26,450- 20,000$

$\boxed{\sf{ \star \;\; CI = Rs. \; 6,450 }}$

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Hence,  

• The compound interest is of Rs. 6,450  

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Answer 2

Question ⤵

Find the compound interest on rs. 20,000 in 2 years at the rate of 15 p.c.p.a

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Solution ⤵

Given ⤵

Principal for the first year = Rs. 20,000, rate = 5%, T = 2 year.

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Amount ➡$\large{P{({1 + \frac{R}{100}}})}^{n}$

Amount ➡ $\large{20000{({115+ \frac{15}{100}}})}^{2}$

Amount ➡$\large{{20000× (\frac{15}{100}}})^{2}$

Amount ➡ RS. 26450.

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Finding the Compound Interest :-

$\sf \implies CI = 26,450 - 20,000$

$\because$ 26,450 − 20,000

$\because$ The compound interest is of Rs. 6,450

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