Question

Sant Ram borrowed a sum of 2000 from the Co-operative Bank to instal a handpump in his dairy.
If the rate of interest is 5% per annum, calculate the compound interest that Sant Ram will pay to
the bank after three years.​

Answer 1

$\sf{\underline{\boxed{\large{\blue{\mathsf{Solution}}}}}}$

$\sf{\bold{\green{\underline{\underline{Given}}}}}$

• Principle = Rs. 2000
• Rate = 5%
• Time = 3 years

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$\sf{\bold{\green{\underline{\underline{To\:Find}}}}}$

• Amount = ????

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$\sf{\bold{\green{\underline{\underline{Solution}}}}}$

$\sf{\red{\boxed{\bold{Amount = p ( 1 + \dfrac{r}{100})^t}}}}$

⠀⠀⠀⠀

: $\sf\implies\:{\bold{ Amount = 2000( 1 + \dfrac{5}{100})^3}}$

⠀⠀⠀⠀

: $\sf\implies\:{\bold{ Amount = 2000( \dfrac{100+5}{100})^3 }}$

⠀⠀⠀⠀

: $\sf\implies\:{\bold{ Amount = 2000( \dfrac{105}{100})^3 }}$

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: $\sf\implies\:{\bold{Amount = 2000 \times \dfrac{105\times 105 \times 105}{100\times 100\times 100} }}$

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: $\sf\implies\:{\bold{ Amount = 2\times\dfrac{105\times 105 \times 105}{1000} }}$

⠀⠀⠀⠀

: $\sf\implies\:{\bold{ Amount = 2 \times\dfrac{11025\times 105}{1000}}}$

⠀⠀⠀⠀

: $\sf\implies\:{\bold{ Amount = \dfrac{2\times 1157625}{1000} }}$

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: $\sf\implies\:{\bold{ Amount = \dfrac{2315250}{1000} }}$

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: $\sf\implies\:{\bold{ Amount = Rs.2315.25 }}$

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$\sf{\bold{\green{\underline{\underline{Answer}}}}}$

• Sant ram will pay Rs. 2315.25 to the bank after 3 years at 5% per annum .

Answer 2

Step-by-step explanation:

kindly refer to attachment