Question

Question # 20
What will a sum of Rs. 35,000 amount to after 2 years if a compound interest of 6% per annum is provided?

Answer 1

Solution :-

Here, A sum of Rs.35000 amount to after 2 years if a compound interest of 6% per annum is provided.

Therefore,

Principal = Rs35000

Time = 2 years

Rate of interest = 6%

Now,

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

A = 35000( 1 + 6/100)^2

A = 35000( 106/100)^2

A = 35000 * 106/100 * 106/100

A = 35 * 106 * 106/10

A = 7 * 106 * 106/2

A = 7 * 106 * 53

A = 742 * 53

A = 39,326

Hence, The amount will be Rs39,326 $.$

Answer 2

Answer:

Given that,

Principal Amount (P)= 35,000

Interest Rate(R) = 6 %/year

Time(T) = 2 Year

Let Sum of amount provided after 2 year= A

Now,

$A=P(1+R/100)^{T} \\ = 35000(1+6/100)^{2} \\ = 35000 * (1.06)^{2} \\ =35000 * 1.1236\\ =39,326$

Hence The sum of the amount after 2 years will be 39,326.