Question

HEY GUY'S✌

MRS. sharma depoisted rs. 60,000 in a bank for 2years. if the interest is 8% p.a. compound annually what amount will she receive at the end of 2years?​

Answer 1

$a \: = p(1 + \frac{r}{100})^{n}$

$a = 60000(1 + \frac{8}{100})^{2}$

$a = 60000 \times \frac{108}{100} \times \frac{108}{100}$

$a = 69984$

☑️ The amount she will receive at the end of 2 years if she deposited ₹60000 in a bank for 2 years at the rate of 8% per annum compounded annually is ₹69984.

Answer 2

Answer:

69,984

STEP BY STEP EXPLANATION

GIVEN

• PRINCIPAL = 60,000

• Time = 2 year

• Rate = 8 %

Formula used

Simple interest = P × R × T/100

Now , we have

FOR 1st

p = 60,000,R= 1%, R= 8%

INTEREST 1 = P×R×T/100

= 60,000× 8 × 1/100 ( zero gets cancel )

= 4800

For 2nd

( p + interest 1)

60,000+4800= 64800

Time = 1

Rate = 8%

Interest 2 = P×R×T/100

= 64800 × 8 × 1/100( zero get cancel)

= 648 × 8

= 5184

Now we found the 2 years Amount

now we add all amount together

A = P + P1 + P2

= 60,000+4800+5184

= 69,984

hope it helps you

have a good day ahead