Question

Ram deposited 12000 in a bank for
4 years at rate of 6% per annum
compound interest. what amount will
he received from the bank at the end
of the term.
*​

Answer 1

Answer:

so the answer is as follows

Answer 2

Given:

• Rate = 6 %
• Time = 4 years
• Principal = Rs. 12000

To Find:

• The amount received by ram from the bank at the end of the term.

Solution:

The formula to find the amount is given by,

A = P$(1+\frac{r}{100})^t$ → {equation 1}

Where "A" is the amount, "P" is the principal, "r" is the rate, and "t" is the time.

On substituting the values in equation 1 we get,

⇒ A = 12000$(1+6/100)^4$  {taking LCM}

⇒ A = 12000×$(\frac{100+6}{100} )^4$  {adding the terms in numerator}

⇒ A = 12000×$(\frac{106}{100} )^4$   {dividing the terms}

⇒ A = 12000×$(1.06)^4$  { multiplying the bracket term 4 times}

⇒ A =  12000×1.2624 {multiplying the terms}

⇒ A = Rs. 15149.723

∴ The amount received by ram from the bank at the end of the term =  Rs. 15149.723