Question

Ram borrowed a sum of ₹ 30000 from shyam for 3 years. If the rate of interest is 6%per annum compounded annually, find the interest paid by ram to shyam after 3 years ​

Answer 1

Given :

• Principal = ₹ 30000
• Rate = 6 %
• Time = 3 years

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To Find :

• Compound Interest = ?

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Solution :

~ We know that :

• Amount :

${\color{orange}{\bigstar}} \: \: {\underline{\boxed{\color{darkblue}{\sf{Amount = Principal \bigg\{ 1 + \dfrac{Rate}{100} \bigg\}^{Time} }}}}}$

• Compound Interest :

${\color{orange}{\bigstar}} \: \: {\underline{\boxed{\color{darkblue}{\sf{Compound \; Interest = Amount - Principal }}}}}$

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~ Calculating the Amount :

$\: \: {\dashrightarrow{\qquad{\sf{ Amount = Principal \bigg\{ 1 + \dfrac{Rate}{100} \bigg\}^{Time} }}}}$

$\: \: {\dashrightarrow{\qquad{\sf{ Amount = 30000 \bigg\{ 1 + \dfrac{6}{100} \bigg\}^3 }}}}$

$\: \: {\dashrightarrow{\qquad{\sf{ Amount = 30000 \bigg\{ 1 + \cancel\dfrac{6}{100} \bigg\}^3 }}}}$

$\: \: {\dashrightarrow{\qquad{\sf{ Amount = 30000 \bigg\{ 1 + 0.06 \bigg\}^3 }}}}$

$\: \: {\dashrightarrow{\qquad{\sf{ Amount = 30000 \bigg\{ 1.06 \bigg\}^3 }}}}$

$\: \: {\dashrightarrow{\qquad{\sf{ Amount = 30000 \times 1.06 \times 1.06 \times 1.06 }}}}$

$\: \: {\dashrightarrow{\qquad{\sf{ Amount = 30000 \times 1.191016 }}}}$

$\qquad \: {\green{:\implies{\underline{\boxed{\red{\sf{Amount = ₹ \: 35730.48 }}}}}}}$

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~ Calculating the Interest :

$\: \: {\longrightarrow{\qquad{\sf{ Compound \; Interest = Amount - Principal }}}}$

$\: \: {\longrightarrow{\qquad{\sf{ Compound \; Interest = 35730.48 - 30000 }}}}$

$\qquad \: {\pink{:\implies{\underline{\boxed{\orange{\sf{Compound \: Interest = ₹ \: 5730.48 }}}}}}}$

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~ Therefore :

❝ The compound Interest is ₹ 5730.48 . ❞

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Answer 2

Given

• Ram borrowed a sum of ₹ 30000 from shyam for 3 years. If the rate of interest is 6%per annum compounded annually, find the interest paid by ram to shyam after 3 years

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To Find

• Interest?

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Solution

Formula Used

$\pink\bigstar \boxed{ \sf{A=P(1+r) t}}$

$\red\bigstar \boxed{ \sf{ Compound \: interest \: = Amount - Principal}}$

Putting Values According To Formula

${ \longmapsto{ \sf{A=30000(1+0.06)^3}}}$

${ \longmapsto{ \sf{A=30000(1.06)^3}}}$

${ \longmapsto{ \sf{A=30000(1.191016)}}}$

${ \longmapsto{ \sf{A=35730.48}}}$

So, The amount is Rs.35730.48.

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The compound interest is amount - principal.

Compound interest = Amount - Principal

${ \sf{Compound \: interest = \bf \red{ 35730.48 - 30000}}}$

${ \sf{Compound \: interest = \bf \red{ 5730.48 }}}$

Therefore,

“The interest paid by Ram to Shyam after 3 years is Rs.5730.48.”

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