Question

shyam deposited rs 4000 in the bank to earn interest at the rate of 9 1/2%per annum .find the amount which shyam will get from the bank after 2 years when interest being compounded anually .how much is the compound interest?

Answer 1

hence Shyam deposited RS 4000 in the bank to earn interest at the rate of 9 1/2% per annum.
so his compound interest will be ________
$(4000(1 + \frac{ \frac{19}{2} }{100} )^{2} )- 4000 \\ =( 4000(1 + \frac{19}{200} )^{2}) - 4000 \\ = (4000 \times \frac{219}{200} \times \frac{219}{200} ) - 4000\\ = (4 \times 219 \times \frac{219}{20} ) - 4000\\ =(9592.2 - 4000)rs \\ = 5592.2 \: rs$
hope this helps...

Answer 2

Dear Student,

● Answer -

Returns = 4796 Rs

Compound interest = 796 Rs

● Explanation -

Amount Shyam will get from the bank after 2 years -

Returns = P (1 + r)^t

Returns = 4000 (1 + 9.5/100)^2

Returns = 4000 × (1.095)^2

Returns = 4000 × 1.2

Returns = 4000 × 1.199

Returns = 4796 Rs

Compound interest for 2 years is -

Compound interest = Returns - Principal

Compound interest = 4796 - 4000

Compound interest = 796 Rs

Hence, Shyam will get 4796 Rs after 2 years of which 796 is compound interest.

Thanks dear. Hope this helps you..