Question

♥Heya♥

Find the compound interest on ₹6400 for 2 years , compounded annually at 7 whole 1/2 % per annum.

( From Rs Aggarwal Class 8th - Chapter 11, Compound Interest )

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Answer 1

Answer :

✴ Compound Interest = ₹ 996 ✴

Step-by-step explanation-

Given

• P ( principal ) = $₹ 6400$

• R ( rate ) $7 \frac{1}{2} %$ per annum

• T ( time ) = $2$ years

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Solution-

By using formula -

$\huge\rm\red { A = P(1 + \frac{R}{100} ) {}^{T}}$

Amount after 2 years -

$₹[6400 \times (1 + \frac{15}{2 \times 100} ) {}^{2} ]$

$₹[6400 \times (1 + { \frac{3}{40} )}^{2} ]$

$₹[6400 \times \frac{43}{40} \times \frac{43}{40} ] = ₹7396$

Therefore,

$\rm\pink {Compound \: Interest = (amount) - (principal)}$

$= > ₹(7396 - 6400) = ₹996$

Hence, Compound Interest = ₹996

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Some important formulae related to Compound Interest :-

• If principal = ₹ P , rate = R % per annum and time = n years , then

a) amount after n years (compounded annually)

$\huge\rm\blue { = ₹P (1 + \frac{R}{100} ) {}^{n}}$

b) amount after n years ( Compounded half-yearly)

$\huge\rm\blue { = ₹P (1 + \frac{R}{2 × 100} ) {}^{2n}}$

c) amount after n years ( compounded quarterly)

$\huge\rm\blue { = ₹P (1 + \frac{R}{4 × 100} ) {}^{4n}}$

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Answer 2

$\huge\bf{Answer:-}$

Refer to the Attachment, Sista Pratika. :) And sorry for the bad handwriting.

Final solution:-

₹996 was the Compound Interest.