Question

rajpal deposited ₹5000 with a finance company fir 5 years at 12% per annum . What is the compound interest the rajpal gets after 5 years​

Answer 1

Step-by-step explanation:

The compound interest that Rajpal will get about 8811.7 rupees.

Answer 2

Answer:

• Rajpal gets ₹ 3810 as compound interest after 5 years.

Step-by-step explanation:

Given that:

• Rajpal deposited ₹ 5000 with a finance company for 5 years at 12% per annum.

To Find:

• Compound Interest Rajpal gets after 5 years.

Formula Used:

$\sf{Amount=Principal\bigg(1+\dfrac{Rate}{100}\bigg)^{Time}}$

Where,

• Principal = ₹ 5000
• Rate = 12%
• Time = 5 years

Substituting the values,

$\sf{Amount=5000\bigg(1+\dfrac{12}{100}\bigg)^5}$

Adding 1 and 12/100,

$\sf{\hookrightarrow5000\bigg(\dfrac{100+12}{100}\bigg)^5}$

$\sf{\hookrightarrow5000\bigg(\dfrac{112}{100}\bigg)^5}$

Opening the bracket,

$\sf{\hookrightarrow5000\times\dfrac{112}{100}\times\dfrac{112}{100}\times\dfrac{112}{100}\times\dfrac{112}{100}\times\dfrac{112}{100}}$

Reducing the numbers,

$\sf{\hookrightarrow5000\times1.12\times1.12\times1.12\times1.12\times1.12}$

Multiplying 1.12 with itself 5 times,

$\sf{\hookrightarrow5000\times1.762}$

Multiplying the numbers,

$\sf{\hookrightarrow8810}$

Hence, Amount = ₹ 8810

Now,

• CI = Amount - Principal

Substituting the values,

CI ≈ ₹(8810 - 5000)

≈ ₹ 3810