Question

What amount henna has to pay at the end of 2 years on a sum of rs 20000 at an interest of 8% compounded annually?

Answer 1

ANSWER

Given that,

P=Rs.20,000

R=8%

T=2years

As compounded annually, n=2.

Amount at the end of 2 years =P(1+  100R )  n

 

=20000(1+  1008)  2

 

=20000×  

100

108

​  

×  

100

108

​  

 

=Rs.23,328

Compound Interest (C.I) =23328−20000=Rs.3328

Answer 2

Given :

• Time = 2 years

• principle = rs 20000

• Rate of interest = 8%

To Find :

• amount henna has to pay

$\large \red{ \underline{ \underline{ \green{ \rm \: solution : }}}}$

$\: \: \: \: \large \rightarrow \orange{ \boxed{ \boxed{ \red{ \rm \: s.i = \frac{p \times r \times t}{100}}}}}$

$\implies \: \dfrac{2 \times 20000 \times 8 }{100}$

$\implies \: 2 \times 200 \times 8$

= 3200

$\large \green{ \boxed{ \boxed{ \purple{ \rm \: amount = s.i + p}}}}$

$\implies$ amount = 3200 + 20000

$\bigstar \: \large \pink{ \boxed{ \red{ \rm \: amount = 23200}}}$

$\therefore$ amount henna has to pay = rs. 23200