Question

use the formula and calculate the amount and compound interest when principal 5000 rate 8% time 2 years​

Answer 1

Answer:

⠀⠀⠀⌬ Principal = Rs. 5000

⠀⠀⠀⌬ Rate = 8% per annum

⠀⠀⠀⌬ Time = 2 years

$\underline{\bigstar\:\textsf{According to the given Question :}}$

$:\implies\sf Amount = P \times \bigg(1 +\dfrac{r}{100}\bigg)^{t}\\\\\\:\implies\sf Amount = 5000 \times \bigg(1 +\dfrac{8}{100}\bigg)^{2}\\\\\\:\implies\sf Amount = 5000 \times \bigg(\dfrac{100 + 8}{100}\bigg)^{2}\\\\\\:\implies\sf Amount = 5000 \times \bigg(\dfrac{108}{100}\bigg)^{2}\\\\\\:\implies\sf Amount = 5000 \times \dfrac{108}{100} \times \dfrac{108}{100}\\\\\\:\implies\sf Amount = 5 \times 108 \times \dfrac{108}{10}\\\\\\:\implies\sf Amount = 108 \times 54\\\\\\:\implies\sf Amount = Rs.\:5832$

⠀

$\therefore\:\underline{\textsf{Hence, Amount after 2 years is \textbf{Rs. 5832}}}$

Answer 2

Given:

• Principal = Rs. 5000
• Rate = 8 %
• Time = 2 years

What To Find:

We have to find the compound interest.

Solution:

Using the formula,

⇒ $\sf{CI = P \left( 1 + \dfrac{R}{100} \right) ^T}$

Substitute the values,

⇒ $\sf{CI = 5000 \left( 1 + \dfrac{8}{100} \right) ^2}$

Solve the brackets,

⇒ $\sf{CI = 5000 \left( \dfrac{108}{100} \right) ^2}$

Remove the brackets,

⇒ $\sf{CI = 5000 \times \dfrac{108}{100} \times \dfrac{108}{100}}$

Cancel the zeros,

⇒ $\sf{CI = 5 \times 108 \times \dfrac{108}{10}}$

Cancel 5 and 10,

⇒ $\sf{CI = 108 \times \dfrac{108}{2}}$

Multiply 108 and 108,

⇒ $\sf{CI =\dfrac{11664}{2}}$

Divide 11664 by 2,

⇒ CI =  Rs. 5832

∴ Therefore, the compound interest is Rs. 5832.