Question

how much will Rs.24000 amount to in 2 years at the rate of 7% p.a. compound interest?​

Answer 1

$\sf \red To \: \sf \red find$

•how much will Rs.24000 amount to in 2 years at the rate of 7% p.a. compound interest?

$\tt \color{red}P=Rs.24000$

$\tt \color{blue}T=2 \: years$

$\tt \color{lime}R =7\%$

$\tt \pink{A=?}$

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

That means,

$\rm \red{\: A=24000(1 + \frac{7}{100} )^{2} }$

$24000 \times (1.07) ^{2} =$

$\sf \: Amount=24000 \times 1.07 \times 1.07 =$

$\bf \color{purple}{{Rs} .27477.6}$

Hence ,Rs.24000 will amount to Rs.27477.6 in 2 years.

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Extra information.

P=Principal

T=time

R= rate of interest.

Answer 2

Step-by-step explanation:

We know that amount

$\text{\( \rm A= \) \( \rm P\left(1+\dfrac{R}{100}\right)^{t} \)}$

Here, P=₹ 24000

Time t=2 years

Rate R=7 % p.a

$\[ \begin{array}{l} \rm\text { So, amount } A=24000\left(1+\dfrac{7}{100}\right)^{2} \\ \\ \rm =₹ 24000(1.07)^{2} \\ \\ \colorbox{lightpink}{ \boxed{ \rm =₹ 27,477.6}} \end{array} \]$