Question

lculate the amount and compound interest of the following
*2400 for 2 years at 20% per annum compounded annua
per annum compounded annus​

Answer 1

Step-by-step explanation:

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Answer 2

Question:-

Calculate the amount and compound interest on Rs.2400 for 2 years at 20% per annum compounded annually.

Given:-

• P = Rs. 2400
• T = 2 years
• R = 20%

To find:-

• Compound Interest
• Amount

Solution:-

We know,

$\sf{A = P\bigg(1+ \dfrac{r}{100}\bigg)^t}$

= $\sf{A = 2400\bigg(1 + \dfrac{20}{100}\bigg)^2}$

= $\sf{A = 2400\bigg(1 + \dfrac{1}{5}\bigg)^2}$

= $\sf{A = 2400\bigg(\dfrac{5+1}{5}\bigg)^2}$

= $\sf{A = 2400\bigg(\dfrac{6}{5}\bigg)^2}$

= $\sf{A = 2400\times\dfrac{6}{5}\times\dfrac{6}{5}}$

= $\sf{A = 96\times6\times6}$

= $\sf{A = Rs.3456}$

$\sf{\therefore Amount = Rs.3456}$

Now,

$\sf{CI = A - P}$

= $\sf{CI = 3456 - 2400}$

= $\sf{CI =Rs.1056}$

$\sf{\therefore Compound\: Interest = Rs.1056}$

From Solution:-

• A = Amount
• P = Principal
• CI = Compound Interest
• T = Time
• R = Rate