Question

sumesh deposited 20000 rupees in bank which give 8% interest compounded annually. how much would he get after 2 year?​

Answer 1

Given :-

• Principal (p) = Rs. 20000

• Rate percent (R%) = 8%

• Time given = 2 years.

To Find :-

• Total amount

Formula used :-

• $= p(1 + \dfrac{r}{100})t$

Solution :-

⠀⠀$= 20000(1 + \dfrac{8}{100}) \times 2$

⠀⠀$= 20000( \dfrac{100 + 8}{100}) \times 2$

⠀⠀$= 20000( \dfrac{108}{100}) \times 2$

⠀⠀$= 400 \times 108$

⠀⠀$= 43,200$

hence , the Amount = Rs 43,200

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Case 1: When the interest is compounded yearly:

A = $= p(1 + \dfrac{r}{100})t$

Case 2: When the interest is compounded half yearly:

A = $= p(1 + \dfrac{ \dfrac{r}{2}}{100})t$

Case 3: When the interest is compounded quarterly:

A = $= p(1 + \dfrac{ \dfrac{r}{4}}{100})t$