Question

Jayanti borrowed a sum of ₹ 1600 at compound interest to purchase a washing machine at the rate of 5% per annum for two years .Calculate the amount she will hve to pay after two years and also find the interst.

Answer 1

$\large\bf\underline{Given:-}$

• Borrowed amount = Rs1600
• Rate = 5%

$\large\bf\underline {To \: find:-}$

• We need to find the amount which will Jayanti pay after 2 years and intrest

$\huge\bf\underline{Solution:-}$

• Principal = Rs1600
• Rate = 5%
• Time = 2 years
• Amount = ?

$\large \bigstar \tt \: Amount= P(1 + \frac{R}{100} ) {}^{t}$

$\dashrightarrow \tt \: Amount = 1600 \bigg(1 + \frac{5}{100} \bigg) {}^{2} \\ \\ \dashrightarrow \tt \: \: 1600 \bigg(1 + \frac{5}{100} \bigg) {}^{2} \\ \\ \dashrightarrow \tt \: \: 1600 \bigg( \frac{105}{100} { \bigg)}^{2} \\ \\ \dashrightarrow \tt \: \: 16 \cancel{00 }\times \frac{105}{1 \cancel{00}} \times \frac{105}{100} \\ \\ \dashrightarrow \tt \: \: 16 \times 105 \times \frac{105}{100} \\ \\ \dashrightarrow \tt \: \: 1680 \times \frac{105}{100} \\ \\ \dashrightarrow \tt \: \: \frac{176400}{100} \\ \\ \dashrightarrow \boxed{ \bf \:Amount =Rs.1764 }$

$\bigstar \tt \: Compound \: interest = Amount - Principal$

Compound interest = 1764 - 1600

Compound interest = Rs .164

Hence,

• ≫ Amount = Rs.1764
• ≫ Intrest = Rs.164

$\rule{200}3$

Answer 2

Given :

•Principal (P) = ₹1600

• Time (T) = 2 years

•Rate of interest = 5%

To Find :

• We need to find the amount which will jayanti pay after 2 years and interest .

Solution :

We know that,

A = P(1 + R /100)^T

Substituting the value, we get,

=> A = 1600( 1 + 5/100)²

=> A = 1600(105/100)²

=> A = 1600 × (105/100) × (105/100)

=> A = 1600 × 1.05 × 1.05

=> A = ₹1764 .

Now, we know that,

Compound interest, C = A - P .

=> C = 1764 - 1600

=> C = ₹164 .

Therefore,

=> Amount = ₹ 1764 .

=> Interest = ₹ 164 .