Question

Ganesh invested rupees 50000 in a nationalized bank for 2 years at the rate of 9 pcpa at compound interest calculate the amount and compound interest at the end of 2 years​

Answer 1

$\huge\purple{\mathbb{Question}}$

Ganesh invested rupees 50000 in a nationalized bank for 2 years at the rate of 9 pcpa at compound interest calculate the amount and compound interest at the end of 2 years

$\huge\pink{\mathbb{Answer}}$

109,000

$\huge{\mathbb{Formula}}$

A=P(1+R)ᵗ

50000(1+0.09)²

50000×2.18

109,000

Answer 2

Given:

• Principal = Rs. 50000

• Time = 2 years

• Rate = 9 p. c. p. a

What To Find:

We have to find the amount and compound interest after 2 years.

Formula:

• For Amount-

$\it Amount = Principal \left( 1 + \dfrac{R}{100} \right) ^{Time}$

• For Compound Interest-

$\it Compound \: Interest = Amount - Principal$

Solution:

• Finding the amount.

Using the formula,

$\sf \implies Amount = Principal \left( 1 + \dfrac{R}{100} \right) ^{Time}$

Substitute the values,

$\sf \implies Amount = 50000 \left( 1 + \dfrac{9}{100} \right) ^{2}$

Solve the brackets,

$\sf \implies Amount = 50000 \left( \dfrac{109}{100} \right) ^{2}$

Remove the brackets,

$\sf \implies Amount = 50000 \times \dfrac{109}{100} \times \dfrac{109}{100}$

Cancel the zeros,

$\sf \implies Amount = 5 \times 109 \times 109$

Multiply the values,

$\sf \implies Amount = Rs. \: 59405$

• Finding the compound interest.

Using the formula,

$\sf \implies Compound \: Interest = Amount - Principal$

Substitute the values,

$\sf \implies Compound \: Interest = Rs. \: 59405 - Rs. \: 50000$

Subtract the amount,

$\sf \implies Compound \: Interest = Rs. \: 9405$

Final Answer:

Thus,

1. The amount is Rs. 59405.
2. The compound interest is Rs. 9405.