Question

Rahul obtained a loan of ₹4000 for the purchase of a bike from a bank. If the rate of interest is 15 %per annum then find the compound interest that he will have to pay after 2 years .​

Answer 1

Answer:

Rs 1290

Explanation:

$\sf \: Principal= Rs 4000$

$\sf \: Rate = 15\%$

$\sf \: Time = 2 years$

$\textbf{\underline{\underline{To\:Find\:Compound\:Interest :}}}$

$\sf \: Amount = P(1 + \dfrac{r}{100} ) ^{n}$

$\sf \: Amount = 4000(1 + \dfrac{15}{100} ) ^{2}$

$\sf \: Amount = 4000(1 + \dfrac{15}{100} ) ^{2}$

$\sf \: Amount = 4000(1 + \dfrac{3}{20} ) ^{2}$

$\sf \: Amount = 4000 (\dfrac{20 + 3}{20} ) ^{2}$

$\sf \: Amount = 40 \cancel0 \cancel0 \times \dfrac{23}{2 \cancel0} \times \dfrac{23}{2 \cancel0}$

$\sf \: Amount = \dfrac{ 40 \times 23 \times 23}{ 4}$

$\sf \: Amount = \cancel \dfrac{21160}{ 4}$

$\sf \: Amount = Rs \: 5290$

Compound Interest = Amount - Principal

$\implies \sf \: Rs5290 - Rs4000$

$\huge{\boxed{\tt{Rs\:1290}}}$

Answer 2

$\red{Stay\:Curious}$

$\red{Save\:Nature}$

Answer:

Rs 1290