Question

intestest is compounded annually.
3 MARKS QUESTIONS
3. Vanita invested 25,000 in a nationalised bank for 2 years at the rate of 9 p.c.p.a. at compound interest. Calculate
the amount and compound interest at the end of 2 years.
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Answer 1

this chapter name is simple interest yea

Answer 2

The amount = 29702.5 Rs. and Compound interest at the end of 2 year  = 4702.5 Rs.

Given:

Vanita invested 25,000 in a nationalized bank for 2 years at the rate of 9 p.c.p.a. at compound interest.

To find:

The amount and compound interest at the end of 2 years.

Formula used:

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

Where   p = Principle.  r = Rate of interest.

               n= Number of years.

Explanation:

p = Principle = 25,000

r =  Rate of interest = 9%

n= Number of years = 2

Total amount = p$(1+\frac{r}{100} )^n$

Total amount = 25,000$(1+\frac{9}{100} )^2$

                      =  25,000 × 1.1881

Total amount = 29702.5 Rs.

Compound interest at the end of 2 years = Total amount - Principle

                                                                     = 29702.5 - 25000

                                                                     = 4702.5 Rs.

To learn more....

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