Question

if Principal amount is 4,00,000 Rs, rate =20% and Time =2 years. find the compound interest and amount. ​

Please help me !!!​

Answer 1

Answer:

see in the attachment

hope it helpful to u

Answer 2

Step-by-step explanation:

Principle = p = 4,00,000

Rate of interest = 20%

Time = 2 yrs

Have to find:

Compound interest and Amount

Formula used

CI = P[(1+i)^n-1]CI=P[(1+i)

n

−1]

Amt = p(1+i)^nAmt=p(1+i)

n

Solution:

CI = P[(1+i)^n-1]CI=P[(1+i)

n

−1]

CI = 4,00,000[(1+0.2)^2-1]CI=4,00,000[(1+0.2)

2

−1]

CI = 4,00,000[(1.2)^2-1]CI=4,00,000[(1.2)

2

−1]

[(1.2)^2-1] = 0.44[(1.2)

2

−1]=0.44

CI = 4,00,000 * 0.44CI=4,00,000∗0.44

CI = 1,76,000CI=1,76,000

Hence the compound interest of 4,00,000 for 2 yrs @ 20% is 1,76,000

Amount = Principle + Compound interest

Amount = 4,00,000 + 1,76,000

Amount = 5,76,000

Another method to find Amount

Amt = p(1+i)^nAmt=p(1+i)

n

Amt = 4,00,000(1+0.2)^2Amt=4,00,000(1+0.2)

2

Amt = 4,00,000(1.2)^2Amt=4,00,000(1.2)

2

(1.2)^2 = 1.44(1.2)

2

=1.44

Amt = 4,00,000 * 1.44Amt=4,00,000∗1.44

Amt = 5,76,000Amt=5,76,000

it's Isha