Q1 of 13 Page 90

Find the amount and the compound interest.

(a) Principal = 2000/-, Rate = 5% (p.c.p.a), Duration (n) = 2 years



2


A = 2000 (1+0.05)2


A = 2000 (1.05)2


A = 2000 (1.1025)


∴A= 2205/-


∴ C.I = A – P


∴ C.I = 2205 – 2000


C.I. = 205/-


Amount is 2205/- and Compound interest is 205/- .


b. Principal = 5000/-, Rate = 8% (p.c.p.a), Duration (n) = 3 years



3


A = 5000 (1 + 0.08)3


A = 5000 (1.08)3


A = 5000 (1.259712)


∴A= 6298.56/-


∵ C.I. = A - P


∴ C.I. = 6298.56 - 5000


C.I. = 1298.56/-


Amount is 6298.56/- and Compound interest is 1298.56/- .


c. Principal = 4000/-, Rate = 7.5% (p.c.p.a), Duration (n) = 2 years



A = 4000 (1 + 0.075)2


A = 4000 (1.075)2


A = 4000 (1.155625)


∴A= 4622.5/-


∵ C.I. = A - P


∴ C.I. = 4622.5 - 4000


C.I. = 622.5/-


Amount is 4622.5/- and Compound interest is 622.5/- .


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