Question

What would be the amount to be paid on the principal of 5000 rs. At the end of 2 years at compound interest at the rate of 9 % per annum?

Answer 1

Answer:

= 5940.5

Step-by-step explanation:

principal = 5000

rate of interest = 9%

time = 2 years.

using formula

$p {( 1 + \frac{r}{100}) }^{2} \\ = 5000 \times {(1 + \frac{9}{100} )}^{2} \\ = 5000 \times \frac{109}{100} \times \frac{109}{100} \\ = 5940.5$

Answer 2

The amount paid is Rs 5940.5

The amount paid is Rs 5940.5 GIVEN

Principal amount = Rs 5000

Time taken = 2 years

Rate of interest = 9%

TO FIND

The Amount to be paid.

SOLUTION

We can simply solve the above problem as follows;

We can calculate the amount to paid by applying the following formula;

A = p(1+ r/100)²

Where,

A = Final amount.

P = principal amount

r = rate of interest.

Putting the values in the above formula;

$A = 5000(1 + \frac{r}{100} )^{2}$

$= 5000 \times(1 + \frac{9}{100} ) ^{2}$

$= 5000 \times \frac{109}{100} \times \frac{109}{100}$

=Rs 5940.5

Hence, The amount paid is Rs 5940.5

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