Question

find the compound intrest on rs 6400 for 2 year at 5/1 upon 2% perannum ​

Answer 1

Answer:

₹723.36

Step-by-step explanation:

Principal (P) = ₹6400

Rate (R) = 5½ % = 11/2 %

Time (n) = 2 years

Amount (A) = P (1 + R/100)ⁿ

=> A = 6400 (1 + 11/200)²

=> A = 6400 (211/200) (211/200)

=> A = ₹7123.36

Compound Interest = A-P = ₹7123.36 - ₹6400 = ₹723.36

Answer 2

$\sf{\underline{\underline{ \purple{ \large{Given:}}}}}$

✰ Principal ( P ) = Rs. 6400

✰ Rate ( r ) = $\sf5 \dfrac{1}{2} \% = \dfrac{11}{2} \% \: \: p.a.$

✰ Time ( n ) = 2 years

$\\ \\ \\ \sf{\underline{\underline{ \purple{ \large{To \: Find:}}}}}$

✠ The compound interest.

$\\ \\ \\ \sf{\underline{\underline{ \purple{ \large{Solution:}}}}}$

First we will find amount by using formula then we will calculate compound interest by subtracting amount from the original principal.

• The money borrowed is called the principle, the extra money paid for using lender's money is called interest and the total money paid to the lender at the end of a specified period is called amount.

$\\ \\ \twoheadrightarrow \sf{A = P{ {\bigg(1} + \frac{r}{100}{\bigg)}^{n} } }$

where

• A = amount;
• P = principal
• r = rate of interest compounded
• n = number of years

$\\ \\ \twoheadrightarrow \sf{A = 6400{ {\bigg(1} + \frac{11}{2 \times 100}{\bigg)}^{2} }}$

$\\ \\ \twoheadrightarrow \sf{A = 6400{ {\bigg(1} + \frac{11}{ 200}{\bigg)}^{2} }}$

$\\ \\ \twoheadrightarrow \sf{A = 6400{ {\bigg(} \frac{200 + 11}{ 200}{\bigg)}^{2} }}$

$\\ \\ \twoheadrightarrow \sf{A = 6400{ {\bigg(} \frac{211}{ 200}{\bigg)}^{2} }}$

$\\ \\ \twoheadrightarrow \sf{A = 6400 \times \frac{211}{ 200} \times \frac{211}{ 200} }$

$\\ \\ \twoheadrightarrow \sf{A = {\cancel{6400}}^{32 } \times \frac{211}{ \cancel{200}} \times \frac{211}{ 200} }$

$\\ \\ \twoheadrightarrow \sf{A = 32 \times 211 \times \frac{211}{ 200} }$

$\\ \\ \twoheadrightarrow \sf{A = 6752 \times \frac{211}{ 200} }$

$\\ \\ \twoheadrightarrow \sf{A =Rs. \: 7123.36}$

Now, calculate Compound interest

$\\ \sf \star \: Compound \: interest = A - P$

$\\ \sf \star \: Compound \: interest = 7123.36 - 6400$

$\\ \sf \star \: Compound \: interest = 723.36$

$\\ \\ \\ \therefore {\tt{Compound \: interest = { \green{ \underline{ \boxed{ \sf{Rs \: 723.36}}}}}}}$

─━━━━━━━━━──━━━━━━━━━─