Question

What sum will amount to
28,556/- in two years at 10%
per annum compound interest
? Also find compound interest.
*​

Answer 1

$\sf\large\underline{Given:}$

• $\rm{Amount=Rs.28556}$
• $\rm{Time=2\: years}$
• $\rm{Rate=10\%}$

$\sf\large\underline{To\: Find:}$

• $\rm{\implies The\:sum=?}$

$\sf\large\underline{Solution:}$

• Simply applying formula to calculate sum]

$\rm{\implies A=P\bigg(1+\dfrac{r}{100}\bigg)^n}$

$\rm{\implies 28556=P\bigg(1+\dfrac{10}{100}\bigg)^2}$

$\rm{\implies 28556=P\bigg(\dfrac{11}{10}\bigg)^2}$

$\rm{\implies 28556=\dfrac{121P}{100}}$

$\rm{\implies 121P=28556\times\:100}$

$\rm{\implies P=236\times\:100}$

$\rm{\implies P=23600}$

$\sf\large{Hence,}$

$\rm{\implies The\:sum=Rs.23600}$

$\sf\large\underline{Some\: related\: formula:}$

$\rm{\implies CI=P\bigg(1+\dfrac{r}{100}\bigg)^n-P}$

$\rm{\implies Amount=Principal+Interest}$

$\rm{\implies Principal=Amount-Interest}$

$\rm{\implies Interest=Amount-Principal}$