Question

Harshita has invested a sum of ₹30,000 for 2 years at an interest of 8% compounded
annually. Find the compound interest (CI) and the sum of money she will get at the
end of 2 years.​

Answer 1

Given:

• Principal$\rm{=₹30,000}$
• Time$\rm{=2~years}$
• Rate$\rm{=8\%}$

We have to calculate the compound interest on Harshita's investment.

→We will find the CI by two Steps. And they are following:

$\sf\underline\blue{Step~1:}$

• Principal for the 1st yr.= $\rm{₹30,000}$
• Rate= $\rm{8\%}$

Interest 1(in the first yr.)=

$→\dfrac{P×R×T}{100}$

$→\dfrac{30,000×8×1}{100}$

$→\dfrac{240000}{100}$

$→\sf{₹2400}$

$\sf\purple{Amount~of~frst~yr.:-}$

$\sf\mapsto{₹(30,000+2400)}$

$\sf\mapsto{₹32,400}$

$\sf\underline\blue{Step~2:}$

Principal for 2nd yr.=Amount of 1st yr.=$\rm{₹32,400}$

Interest 2

$→\dfrac{P×R×T}{100}$

$→\dfrac{32,400×8×1}{100}$

$→\dfrac{259200}{100}$

$→\rm{₹2592}$

$\sf\purple{Amount~of~second~yr.:-}$

$\sf\mapsto{₹(32,400+2592)}$

$\sf\mapsto{₹34,992}$

★There are two methods to find the Interest 2.

•Interest of second year=$\sf{₹34,992-₹30,000=₹4992}$

•Interest of second year=$\sf{₹2400+₹2592=₹4992}$

Hence, Harshita will get $\sf{₹(30,000+4992)=₹34,992}$ at the end of two years.

▬▬▬▬▬▬▬▬▬▬▬▬

Answer 2

Given:

• Principal$\rm{=₹30,000}$
• Time$\rm{=2~years}$
• Rate$\rm{=8\%}$

We have to calculate the compound interest on Harshita's investment.

→We will find the CI by two Steps. And they are following:

$\sf\underline\blue{Step~1:}$

Principal for the 1st yr.= $\rm{₹30,000}$

Rate= $\rm{8\%}$

Interest 1(in the first yr.)=

$→\dfrac{P×R×T}{100}$

$→\dfrac{30,000×8×1}{100}$

$→\dfrac{240000}{100}$

$→\sf{₹2400}$

$\sf\purple{Amount~of~frst~yr.:-}$

$\sf\mapsto{₹(30,000+2400)}$

$\sf\mapsto{₹32,400}$

$\sf\underline\blue{Step~2:}$

Principal for 2nd yr.=Amount of 1st yr.=$\rm{₹32,400}$

Interest 2

$→\dfrac{P×R×T}{100}$

$→\dfrac{32,400×8×1}{100}$

$→\dfrac{259200}{100}$

$→\rm{₹2592}$

$\sf\purple{Amount~of~second~yr.:-}$

$\sf\mapsto{₹(32,400+2592)}$

$\sf\mapsto{₹34,992}$

★There are two methods to find the Interest 2.

•Interest of second year=$\sf{₹34,992-₹30,000=₹4992}$

•Interest of second year=$\sf{₹2400+₹2592=₹4992}$

Hence, Harshita will get $\sf{₹(30,000+4992)=₹34,992}$ at the end of two years.

▬▬▬▬▬▬▬▬▬▬▬▬

${\huge{\underline{\small{\mathbb{\blue{HOPE\:HELP\:U\:BUDDY :)}}}}}}$

$\pink{cαndчflσѕѕ♡}$