Q42. Find the compound interest on Rs. 6400 for 5 years at 10% p.a.
explain please please
Answers
Question:
1. Find the compound interest on R.s. 6400 for 5 years at 10% p.a.
2. Find the compound interest on R.s. 6400 for 3¹/₂ years at 10% p.a.
Answer:
▶️ The compound interest on R.s. 6400 for 5 years at 10% p.a. = ₹ 3,907.264
▶️ The compound interest on R.s. 6400 for 3¹/₂ years at 10% p.a. = ₹ 2,534.17
Explanation:
Dear student,
Let's find the answer in a step-by-step manner which'll help you understand Hope you find this answer satisfactory and self-explanatory. And if you do , please don't hesitate to express your gratitude
✡️Given
Principle = 6,400
Rate of interest = 10%
Time = 5 yrs
Lets do it
We know that, CI = p(1+I)ⁿ-1
CI = 6,400(1+0.1)⁵-1
⟹ 6,400(1.1)⁵-1
⟹ 6,400 × 0.61051
⟹ ₹ 3,907.264
2. Find the compound interest on R.s. 6400 for 3¹/₂ years at 10% p.a.
We know that, CI = p(1+I)ⁿ-1
CI = 6,400(1+0.1)⁵-1
⟹ 6,400(1.1)⁷/₂-1
⟹ 6,400 × 0.3959646
⟹ ₹ 2,534.17