Question

what sum will amount to 28090rs . in two years at 6% per annum compound interest? also find the compound interest. ​

Answer 1

Given :

Amount : ₹28090

Rate of interest : 6%

Time : 2 years

To find :

The principle and the compound interest.

Solution :

First, we'll find the principle value by the formula of amount.

$\sf \dashrightarrow Amount = Principle \bigg( 1 + \dfrac{Rate}{100} \bigg)^{Time}$

$\sf \dashrightarrow 28090 = P \bigg( 1 + \dfrac{6}{100} \bigg)^{2}$

$\sf \dashrightarrow 28090 = P \bigg( \dfrac{100 + 6}{100} \bigg)^{2}$

$\sf \dashrightarrow 28090 = P \bigg( \dfrac{106}{100} \bigg)^{2}$

$\sf \dashrightarrow 28090 = P \bigg( \dfrac{53}{50} \bigg)^{2}$

$\sf \dashrightarrow 28090 = P \bigg( \dfrac{53^2}{50^2} \bigg)$

$\sf \dashrightarrow 28090 = P \bigg( \dfrac{2809}{2500}$

$\sf \dashrightarrow P = 28090 \div \dfrac{2809}{2500}$

$\sf \dashrightarrow P = \dfrac{28090}{1} \times \dfrac{2500}{2809}$

$\sf \dashrightarrow P = \dfrac{70225000}{2809}$

$\sf \dashrightarrow P = 25000$

Now, we can find the compound interest.

Compound interest :

$\sf \dashrightarrow Amount - Principle$

$\sf \dashrightarrow 28090 - 25000$

$\dashrightarrow$₹$\sf 3090$

Hence, the principle and compound interest is ₹25000 and ₹3090 respectively.

Answer 2

Answer:

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