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

Answer:

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

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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