Question

the compound interest on rs 50000 at 8% per annum for 2 years compounded annually is????????​

Answer 1

Answer:

P=Rs.5000,r=8%,t=2

CI=P[1−(1+100 r)t]

⟹CI=5000[1−(1+100 8)2]

⟹CI=Rs.832

Answer 2

Given:

$\[P = Rs.\,50,000,\,\,r = 8\% ,\,n = 2{\rm{year}}\]$

Solution:

Know that,

$\[CI = P{\left( {1 + \frac{r}{{100}}} \right)^n} - P\]$

Therefore,

$\[ = 50,000{\left( {1 + \frac{8}{{100}}} \right)^2} - 50,000\]$

$\[ = 50,000\left\{ {{{\left( {1 + \frac{2}{{25}}} \right)}^2} - 1} \right\}\]$

$\[ = 50,000\left\{ {{{\left( {\frac{{27}}{{25}}} \right)}^2} - 1} \right\}\]$

$\[ = 50,000\left\{ {\frac{{729}}{{625}} - 1} \right\}\]$

Solve further,

$\[ = 50,000\left\{ {\frac{{729 - 625}}{{625}}} \right\}\]$

$\[ = 80 \times 104\]$

$\[ = Rs.8320\]$

Hence, the compound interest on Rs.50000 at 8% per annum for 2 years compounded annually is 8320 rupees.