Question

I have 5000 in my hand. I deposited that money in a bank at the rate of 8.5% compound
interest per annum for two years. Let us write by calculating how much money I shall get a
the end of 2 years​

Answer 1

Answer:

principal: rupees 5000

time: 2 years

rate of interest: 8.5%

CALCULATION

Amount= p(1+(r/100))^n. ( n=time)

amount= 5000 (1+ (8.5/100))^2

amount= 5000(1+(85/1000))^2

5000(1+(17/200))^2

5000((200+17)/200)^2

5000(217/200)^2

5000*217/200*217/200

25*217*217/200

217*217/8

=5886.125

So, I will get 5886.125 rupees after 2 years.

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Answer 2

Answer:

given:❥ Principle:₹5000

❥Rate per annum:8.5%

❥time:2 years

R.T.S: Amount after 2 years

LETs solve!

∴ Amount: p(1+r/100)²

=5000(1+85/1000)²

=5000(217/200)²

=5000(47089/40000)

= 5886.125(approx)

∴ I shall get ₹5886.125(approx