Ganesh invested rupees 50000 in a nationalized bank for 2 years at the rate of 9 pcpa at compound interest calculate the amount an

2 thoughts on “Ganesh invested rupees 50000 in a nationalized bank for 2 years at the rate of 9 pcpa at compound interest calculate the amount an”

1. Given:

   • Principal = Rs. 50000

   • Time = 2 years

   • Rate = 9 p. c. p. a

   What To Find:

   We have to find the amount and compound interest after 2 years.

   Formula:

   • For Amount-

   [tex]\it Amount = Principal \left( 1 + \dfrac{R}{100} \right) ^{Time}[/tex]

   • For Compound Interest-

   [tex]\it Compound \: Interest = Amount – Principal[/tex]

   Solution:

   • Finding the amount.

   Using the formula,

   [tex]\sf \implies Amount = Principal \left( 1 + \dfrac{R}{100} \right) ^{Time}[/tex]

   Substitute the values,

   [tex]\sf \implies Amount = 50000 \left( 1 + \dfrac{9}{100} \right) ^{2}[/tex]

   Solve the brackets,

   [tex]\sf \implies Amount = 50000 \left( \dfrac{109}{100} \right) ^{2}[/tex]

   Remove the brackets,

   [tex]\sf \implies Amount = 50000 \times \dfrac{109}{100} \times \dfrac{109}{100}[/tex]

   Cancel the zeros,

   [tex]\sf \implies Amount = 5 \times 109 \times 109[/tex]

   Multiply the values,

   [tex]\sf \implies Amount = Rs. \: 59405[/tex]

   • Finding the compound interest.

   Using the formula,

   [tex]\sf \implies Compound \: Interest = Amount – Principal[/tex]

   Substitute the values,

   [tex]\sf \implies Compound \: Interest = Rs. \: 59405 – Rs. \: 50000[/tex]

   Subtract the amount,

   [tex]\sf \implies Compound \: Interest = Rs. \: 9405[/tex]

   Final Answer:

   Thus,

   1. The amount is Rs. 59405.
   2. The compound interest is Rs. 9405.

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2. [tex]\huge\purple{\mathbb{Question}}[/tex]

   Ganesh invested rupees 50000 in a nationalized bank for 2 years at the rate of 9 pcpa at compound interest calculate the amount and compound interest at the end of 2 years

   [tex]\huge\pink{\mathbb{Answer}}[/tex]

   109,000

   [tex]\huge{\mathbb{Formula}}[/tex]

   A=P(1+R)ᵗ

   50000(1+0.09)²

   50000×2.18

   109,000

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