find the amount interest when it is compounded annually.. I Will also try .
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find the amount interest when it is compounded annually.. I Will also try .
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Verified answer
GIVEN :-
TO FIND :-
SOLUTION :-
As we know that,
⇒ Amount = P(1 + R/100)ⁿ
⇒ Amount = 625(1 + 4/100)²
⇒ Amount = 625{(100 + 4)/100}²
⇒ Amount = 625(104/100)²
⇒ Amount = 625 × 10816/10000
⇒ Amount = 6760000/10000
⇒ Amount = Rs. 676
Now,
⇒ Compound Interest = Amount - Principal
⇒ Compound Interest = Rs. 676 - Rs. 625
⇒ Compound Interest = Rs. 51
Hence the required Amount is Rs. 676 and the required compound interest is Rs. 51.
Answer:
[tex] \huge \bf \: solution[/tex]
[tex] \sf \: principal(p) = 625[/tex]
[tex] \sf rate \:(r) = 4\%[/tex]
[tex] \sf \: time \: = 2 \: years[/tex]
Aply Formula
[tex]\bf \:amount \: = P ( { 1 + \frac{r}{100} })^{n}[/tex]
[tex] \sf \: amount \: = 625 ({1 + \frac{4}{100}) }^{2} [/tex]
[tex] \sf \: amount \: = 625( { 1 +\frac{100+4}{100}) }^{2} [/tex]
[tex] \sf \: amount \: = 625+ { \frac{104}{100} }^{2} [/tex]
[tex] \sf \: amount \: = \frac{10816}{10000} [/tex]
[tex] \sf \: \frac{6760000}{10000} [/tex]
[tex] \huge \fbox {amount \: = 676}[/tex]
Now,
Compound interest = Amount - Principal
[tex] \sf \: \: compound \: intrest = \: 676 - 625[/tex]
[tex] \huge \bf \: ci \: = 51[/tex]