Question

*What is the amount for Rs. 10000 by compound interest at 8% rate for 2 years?*

1️⃣ ₹ 5000
2️⃣ ₹ 11664
3️⃣ ₹ 15664
4️⃣ ₹ 10664

​

Answer 1

★ Given :

Principal is Rs 10000 by compound interest at 8% rate for 2 years.

$\:$

★ To find :

Amount

$\:$

★ Solution :

$\:$

Principal = ₹10000

Rate of interest = 8%

Time = 2 years.

$\:$

$\underline{ \boxed{ \sf{ \red{Amount = P \bigg(1 + \dfrac{rate \: of \: intrerst}{100 }{ \bigg)}^{n} }}}}$

$\:$

$: \sf \implies10000 \bigg(1 + \dfrac{8}{100} { \bigg)}^{2}$

$\:$

$: \sf\implies10000 \bigg(\dfrac{108}{100} { \bigg)}^{2}$

$\:$

$: \sf\implies10000 \times \dfrac{108}{100} \times \dfrac{108}{100}$

$\:$

$: \sf\implies108 \times 108$

$\:$

$: \sf\implies11644$

$\:$

━━━━━━━━

${ \boxed {\color{blue}{ \mathfrak{ \therefore \: the \: amount \: is \: Rs. 11644}}}}$

━━━━━━━━

Answer 2

Given

Principal=10000

Rate=8%

Time/n=2 years

To find

Amount

$\bold\blue{By \ using \ formula \</p><p> Amount=P(1 \ + \ R/100)^n}$

Solution

Amount=$\bold\pink{Amount=P(1 \ + \ R/100)^n}$

∴$\bold\purple{10000(1 \ + \ 8/100)^2}$

∴$\bold\orange{10000(108/100)^2}$

∴$\bold\green{10000 \ × \ 108/100 \ × \ 108/100}$

∴$\bold\red{108 \ × \ 108}$

∴$\bold\blue{11664}$

Correct Answer

$\bold{option \ 2 \ ₹11664}$

__________________________

Points to remember

• We have use formula Amount=P(1+R/100)^n.
• P stands for principal
• R stands for Rate
• T or n stands for time