Question

harsita invested a sum of 30000 for 2years at the interest of 8%compunded anually. find the compound interest and the sum of the money she will get at the end of the year​

Answer 1

Step-by-step explanation:

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Answer 2

Answer :-

1. Required Compound interest (CI) = ₹ 4,992.
2. Sum of the money received (A) = ₹ 34,992.

Step by step explanation :-

Concept :-

• Application of the formula of amount in the case of compound interest for finding the sum of amount.

• Subtracting the amount from the given principal for finding compound interest.

Given :-

1. Money invested, principal amount = ₹ 30,000.
2. Time duration = 2 years.
3. rate = 8% per annum.

To find :-

1. Compound interest, and
2. Sum of the money received after 2 years.

Solution :-

Since, we've provided with all the necessary details for finding the sum of amount.

Applying the formula for the amount :-

$A = P (1 + \frac{r}{100} ) {}^{n}$

Where,

1. A = Amount
2. P = Principal
3. r = rate of interest
4. t = time

Putting the value, we obtain :-

$A = 30,000 (1 + \frac{8}{100} ) {}^{2}$

$\implies\ A = 30000( \frac{108}{100} )^{2}$

$\implies\ A = 30000 \times \frac{108}{100} \times \frac{108}{100}$

$\implies\bf\red {₹ 34,992}$

Now, for finding CI, we'll subtract the amount from the Principal we have.

$\implies\ CI \: = A - P$

$\implies\ 34992 - 30000$

$\implies\bf\red {₹ 4,992}$

Therefore,

1. Sum of the amount at the end of two years = ₹34,992.
2. Compound interest applied = ₹4,992.