Question

Raju deposited 25000 rupees in a bank which gives 10% interest

compounded annually .

i)After one year how much would he have in his account?​

Answer 1

Answer:

25000x10x1/100=2500

25000+2500=27500

Answer 2

Solution:-

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$\large\to{\underbrace{\underline{\sf{Understanding\:the\:concept:-}}}}$

$\implies$ Here it is given in the question that the principal, rate of interest and time is Rs. 25000, 10% and 1 year respectively. Here we have to find out the amount and compound interest. So, to calculate the Amount and Compound Interest we have to first find out the amount. Then by subtracting the principal from the amount we will get the Compound Interest.

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ANSWER:-

• The amount is Rs. 27,500.
• The compound interest is Rs. 2,500.

GIVEN:-

• Principal amount = Rs. 25000
• Rate of interest = 10%
• Time = 1 year

TO FIND:-

• Here we have to find out Amount and the Compound Interest.

SOLVING STEP BY STEP:-

• To find the compound interest first we need to find the amount.
• To find the amount we have to put the values in a certain formula and solve it.

We know that:-

$\underline{ \boxed{\sf \bigstar Amount = P\Bigg[1 + \bigg(\dfrac{R}{100} \bigg)^{n} \Bigg]}}$

Where,

• P = Principal
• R = Rate
• N = Time

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• Finding the amount:-

$\sf {Amount = 25000\Bigg[1 + \bigg(\dfrac{10}{100} \bigg)^{1} \Bigg]}$

$\sf {Amount = 25000\bigg(\dfrac{100 + 10}{100} \bigg)^{1}}$

$\sf {Amount = 25000\bigg(\dfrac{110}{100} \bigg)^{1}}$

$\sf {Amount = 25000 \times \dfrac{110}{100}}$

$\sf {Cancelling \: the \: zeros.}$

$\sf{Amount = 250 \times \dfrac{110}{1}}$

$\sf{Amount = 250 \times 110}$

$\sf{Amount = 250 \times 110} = 27500$

$\overline{ \boxed{\sf Amount = 27500}}$

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• Now, we will find the compound interest as we got the amount.

We know that:-

$\underline{ \boxed{\sf \bigstar Compound \: Interest = A - P}}$

Where,

• A = Amount
• P = Principal

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• Finding the Compound Interest:-

$\sf {Compound \: Interest = 27500 - 25000}$

When we will subtract 25000 from 27500 we will get 2500.

$\overline{ \boxed{\sf Compound \: Interest = 2500}}$

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