Question

Find the interest on 35000 at the rate of 9 p.c.p.a for 1 year
Plz answer the question​

Answer 1

Answer :-

• The Compound Interest is Rs 3150.

Given :-

• Principal = Rs 35000.
• Rate = 9% compounded per annum.
• Time = 1 year.

To find :-

• The Compound Interest.

Step-by-step explanation :-

• In this question, the Principal, Rate of Interest and the Time has been given to us. We are asked to find out the Compound Interest. For this, we are first going to find the Amount using a formula and then use it to find the Compound Interest to get our answer.

Let's proceed!

Calculations :-

• For finding the Compound Interest, we first have to find the Amount.

We know that :-

$\boxed{\sf Amount = Principal\Bigg(1+ \frac{Rate}{100}\Bigg)^{Time}}$

Here,

• Principal = Rs 35000.

• Rate = 9% p.c.p.a

• Time = 1 year.

-------------------

$\underline{\underline{\mathfrak{Substituting\:the \:given\: values,}}}$

$\boxed{\tt Amount = 35000 \Bigg(1 + \dfrac{9}{100} \Bigg)^{1}}$

Writing 1 as the denominator to make 1 a fraction,

$\boxed{ \tt Amount= 35000\Bigg(\dfrac{1}{1} + \dfrac{9}{100} \Bigg)^1}$

LCM of 1 and 100 is 100, so adding the fractions using their denominators,

$\boxed{\tt Amount = 35000 \Bigg(\dfrac{1\times100+9\times1}{100} \Bigg)^1}$

On simplifying,

$\boxed{\tt Amount = 35000 \Bigg(\dfrac{100+9}{100} \Bigg)^1}$

Adding 9 to 100,

$\boxed{\tt Amount = 35000 \Bigg(\dfrac{109}{100} \Bigg)^1}$

Here the power of the fraction is 1, so it will not have any effect on our answer. Now removing the brackets,

$\boxed{\tt Amount = 350\!\!\!\not0\!\!\!\not0 \times \dfrac{109}{1\!\!\!\not0\!\!\!\not0}}$

Cutting off the zeroes,

$\boxed{\tt Amount = 350 \times \dfrac{109}{1}}$

Now let's multiply the remaining numbers, since we can't reduce them anymore.

$\boxed{\tt Amount = 350 \times 109}$

Multiplying 350 by 109,

$\overline{\boxed{\tt Amount = 38150.}}$

-------------------

• Now since we know the Amount, therefore let's find the Compound Interest.

We know that :-

$\underline{\boxed{\tt Compound\: Interest = Amount - Principal.}}$

Here,

• Amount = Rs 38150.
• Principal = Rs 35000.

Hence,

$\boxed{\tt Compound\: Interest = 38150 - 35000}$

Subtracting 35000 from 38150,

$\overline{\boxed{\tt Compound \: Interest = 3150.}}$

-------------------

• Hence, the Compound Interest is Rs 3150.