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Question
Find the amount and the compound interest.
| No. | Principal (₹) | Rate (p.c.p.a.) | Duration (Years) |
| 1 | 2000 | 5 | 2 |
| 2 | 5000 | 8 | 3 |
| 3 | 4000 | 7.5 | 2 |
Solution
(1) Here, P = ₹ 2000; R = 5 %; N = 2 years
A = P`( 1 + "R"/100)^"N"`
= 2000 `(1 + 5/100)^2`
= 2000`((100+5)/100)^2`
= `2000(105/100)^2`
= `2000(105/100) xx(105/100)`
= 2000 `(21/20)^2`
= 2205 Rupees
Compound interest after 2 years,
I = Amount - Principal
= 2205 - 2000
= 205 Rupees
Hence, Amount = ₹ 2205 and compound interest = ₹205.
(2) Here, P = ₹ 5000; R = 8 %; N = 3 years
A = P `( 1 + "R"/100)^"N"`
= 5000 `(1 + 8/100)^3`
= 5000 `(108/100) xx(108/100) xx(108/100) `
= `(108 xx 108 xx54)/100`
= `629856/100`
= 6298.56 Rupees
∴ Compound interest after 3 years,
I = Amount - Principal
= 6298.56 - 5000
= 1298.56 Rupees
Hence, Amount = ₹ 6298.56 and compound interest = ₹1298.56
(3) Here, P = ₹ 4000; R = 7.5 % ; N = 2 years
A = P `( 1 + "R"/100)^"N"`
= 4000 `(1 + 7.5/100)^2`
= 4000 `(1 +75/1000)^2`
= 4000 `(1075/1000)xx(1075/1000)`
= `(4xx1075xx1075)/1000`
= `4622500/1000`
A = 4622.5 Rupees
∴ Compound interest after 2 years,
I = Amount - Principal
= 4622.5 - 4000
= 622.5 Rupees
Hence, Amount = ₹ 4622.5 and compound interest = ₹ 622.5
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