Question

Ganesh invested rs.50000in a nationalised bank for 2 years at the rate of 9 p.c.p.a. at compound interest. What amount will ganesh receive from bank at the end of the year
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Answer 1

Given -

Ganesh invested rs.50000in a nationalised bank for 2 years at the rate of 9 p.c.p.a. at compound interest.

To find -

• What amount will ganesh receive from bank at the end of the year ?

Solution -

• Principal (P) = Rs.50000
• Rate of interest (R) = 9%
• Time (n) = 2

According to the formula

→ Amount = P(1 + R/100)ⁿ

→ A = 50000(1 + 9/100)ⁿ

→ A = 50000(100 + 9/100)²

→ A = 50000 × (109/100)²

→ A = 50000 × 109/100 × 109/100

→ A = 5 × 109 × 109

→ A = Rs.59405

•°• The amount will ganesh receive from bank at the end of the year is Rs.59405

Focus Zone :

• Simple Interest = P × R × T/100
• Amount = Principal + Simple Interest

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Answer 2

Answer:

Given :-

• Ganesh invested Rs 50000 in a nationalised bank for 2 years at the rate of 9% per annum at compound interest.

To Find :-

• What is the amount will ganesh receive from bank at the end of the year.

Formula Used :-

$\boxed{\bold{\large{A\: =\: P\bigg(1 + \dfrac{r}{100}\bigg)^{n}}}}$

where,

• A = Amount
• P = Principal
• r = Rate of Interest
• n = Time

Solution :-

Given :

• Principal = Rs 50000
• Rate of Interest = 9%
• Time = 2 years

According to the question by using the formula we get,

⇒ $\sf A\: =\: 50000\bigg(1 + \dfrac{9}{100}\bigg)^{2}$

⇒ $\sf A\: =\: 50000\bigg(\dfrac{109}{100}\bigg)^{2}$

⇒ $\sf A\: =\: 50000 \times \dfrac{109}{100} \times \dfrac{109}{100}$

⇒ $\sf A\: =\: \dfrac{594050000}{10000}$

⇒ $\sf A\: =\: \dfrac{\cancel{594050000}}{\cancel{10000}}$

➠ $\sf\red{A\: =\: Rs\: 59405}$

$\therefore$ The amount will Ganesh receive from bank at the end of the year is Rs 59405 .