Question

What sum will amount to rupees 4000 in 3 years at 6% p.a. compound interest​

Answer 1

Answer:

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline{\color{purple}{Given:}}}}}}}\end{gathered}$

• ⇢ Principle = Rs.4000
• ⇢ Rate = 6%
• ⇢ Time = 3 year

$\begin{gathered}\end{gathered}$

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline{\color{purple}{To Find:}}}}}}}\end{gathered}$

• ⇢ Amount

$\begin{gathered}\end{gathered}$

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline{\color{purple}{Using Formula:}}}}}}}\end{gathered}$

${\dag{\underline{\boxed{\sf{Amount ={P{\bigg(1 + \dfrac{R}{100}{\bigg)}^{T}}}}}}}}$

$\dag{\underline{\boxed{\sf{Compound \: Interest = Amount- Principle }}}}$

$\begin{gathered}\end{gathered}$

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline{\color{purple}{Solution:}}}}}}}\end{gathered}$

${\bigstar \:{\underline{\pmb{\frak{\red{Firstly,Finding \: the \: Amount }}}}}}$

$\quad {:\implies{\sf{Amount = \bf{P{\bigg(1 + \dfrac{R}{100}{\bigg)}^{T}}}}}}$

• Substituting the values

$\quad {:\implies{\sf{Amount = \bf{4000{\bigg(1 + \dfrac{6}{100}{\bigg)}^{3}}}}}}$

$\quad {:\implies{\sf{Amount = \bf{4000{\bigg(1 \times 100 + \dfrac{6}{100}{\bigg)}^{3}}}}}}$

$\quad {:\implies{\sf{Amount = \bf{4000{\bigg( \dfrac{100 + 6}{100}{\bigg)}^{3}}}}}}$

$\quad {:\implies{\sf{Amount = \bf{4000{\bigg( \dfrac{106}{100}{\bigg)}^{3}}}}}}$

$\quad {:\implies{\sf{Amount = \bf{4000{\bigg({\cancel{\dfrac{106}{100}}{\bigg)}}^{3}}}}}}$

$\quad {:\implies{\sf{Amount = \bf{4000{\bigg( \dfrac{53}{50}{\bigg)}^{3}}}}}}$

$\quad {:\implies{\sf{Amount = \bf{4000{\bigg( \dfrac{53}{50} \times \dfrac{53}{50} \times \dfrac{53}{50}{\bigg)}}}}}}$

$\quad {:\implies{\sf{Amount = \bf{4000{\bigg( \dfrac{148877}{125000}{\bigg)}}}}}}$

$\quad {:\implies{\sf{Amount = \bf{4000 \times \dfrac{148877}{125000}}}}}$

$\quad {:\implies{\sf{Amount = \bf{4{\cancel{000}} \times \dfrac{148877}{125{\cancel{000}}}}}}}$

$\quad {:\implies{\sf{Amount = \bf{\dfrac{148877 \times 4}{125}}}}}$

$\quad {:\implies{\sf{Amount = \bf{\dfrac{595508}{125}}}}}$

$\quad {:\implies{\sf{Amount = \bf{\cancel{\dfrac{595508}{125}}}}}}$

$\quad {:\implies{\sf{Amount = \bf{4764.064}}}}$

$\begin{gathered} \dag{\boxed{\textsf{\textbf{\underline{\color{green}{Amount = {Rs.4764.064}}}}}}}\end{gathered}$

• Hence, The Amount is Rs.4764.064

$\begin{gathered}\end{gathered}$

${\bigstar \:{\underline{\pmb{\frak{\red{ Now,Finding \: The \: Compound \: Interest }}}}}}$

$\quad{: \implies{\sf{Compound \: Interest = \bf{Amount- Principle }}}}$

• Substituting the values

$\quad{: \implies{\sf{Compound \: Interest = \bf{4764.064- 4000 }}}}$

$\quad{: \implies{\sf{Compound \: Interest =\bf{764.064}}}}$

$\begin{gathered} \dag{\boxed{\textsf{\textbf{\underline{\color{green}{Compound Interest = Rs.764.064}}}}}}\end{gathered}$

• Henceforth,The Compound Interest is Rs.764064

$\begin{gathered}\end{gathered}$

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline{\color{purple}{Learn More:}}}}}}}\end{gathered}$

$\begin{gathered}\begin{gathered}\begin{gathered} \dag \: \underline{\bf{More \: Useful \: Formula}}\\ {\boxed{\begin{array}{cc}\dashrightarrow {\sf{Amount = Principle + Interest}} \\ \\ \dashrightarrow \sf{ P=Amount - Interest }\\ \\ \dashrightarrow \sf{ S.I = \dfrac{P \times R \times T}{100}} \\ \\ \dashrightarrow \sf{P = \dfrac{Interest \times 100 }{Time \times Rate}} \\ \\ \dashrightarrow \sf{P = \dfrac{Amount\times 100 }{100 + (Time \times Rate)}} \\ \end{array}}}\end{gathered}\end{gathered}\end{gathered}$