What is the compound interest on 50000 at 4% per annum for 2 years compounded annually?

ML Aggarwal Solutions Class 9 Mathematics Solutions for Compound Interest Exercise 2.1 in Chapter 2 - Compound Interest

Question 10 Compound Interest Exercise 2.1

Find the amount and the compound interest on ₹ 50000 for 1 ½ year at 8% per annum with the

interest being compounded semi-annually.

Answer:

The interest charged on a loan or deposit is known as compound interest. It is the most often utilised idea in our everyday lives. Compound interest is calculated using both the principal and the interest earned over time.

It is given that

Principal (P) = ₹ 50000

Rate of interest (r) = 8% p.a. = 4% semi-annually

Period (n) = 1 ½ years = 3 semi-annually

We know that

\text { Amount }=\mathrm{P}(1+\mathrm{r} / 100)^{\mathrm{n}}

Substituting the values

= 50000 (1+4 / 100)^{3}

By further calculation

=50000(26 / 25)^{3}

= 50000 × 26/25 × 26/25 × 26/25

= ₹ 56243.20

Here

Compound Interest = A – P

Substituting the values

= 56243.20 – 50000

= ₹ 6243.20

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Solution:

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• The compound interest on Rs 50,000 at 4% per annum for 2 years compounded annually is (a) Rs 4,000, (b) Rs 4,080, (c) Rs 4,280, (d) Rs 4,050
• The compound interest on Rs. 50,000 at 4% per annum for two years compounded annually is:1) 40002) 40803) 42804) 4050
• The compound interest on Rs 50,000 at 4% per annum for 2 years compounded annually in rupees is
• The correct option is B 4,080Given, P = Rs. 50000, R = 4%, T = 2 years A=P(1+R100)T=50000(1+4100)2=50000(2625)2=54080 Compound interest = A - P = 54080 - 50000 = 4080
• What is the compound interest on 50000 at 4% per annum for 2 years compounded annually?
• What will the compound interest on Rupees 5000 at 4% per annum when interest is compounded quarterly?
• What is the compound interest on Rs 5000 for 2 years?
• How much will Rs 50000 to 2 years at 5% interest compounded annually?
• How do you calculate compound interest after 2 years?

The expression which helps determining compound interest is:

A = P(1 + r/100)n

And

Compound Interest (CI) = A - P

Where,

A = Amount at the end of the designated period

P = principal

r = rate of interest compounded annually

n = time period

P = Rs. 50, 000

r = 4% compounded annually

n = 2 years

Therefore we can write:

A = 50,000(1 + 4/100)2

= 50,000(1.04)2

= 50,000(1.0816)

= 54,080

Hence,

CI = 54,080 - 50,000

CI = Rs. 4,080

✦ Try This: The compound interest on Rs 50,000 at 8% per annum for 1 years compounded semi-annually is (a) Rs 4,000, (b) Rs 4,080, (c) Rs 4,280, (d) Rs 4,050

Since,

A = P[1 + (r/2)(1/100)]n

= P[1 + (r/200)]n

= 50,000[1 + (8/200)]2

= 50,000[1 + 0.04]2

= 50,000[1.04]2

= 50,000[1.0816]

= 54,080

CI = 54,080 - 50,000

= Rs.4,080

☛ Also Check: NCERT Solutions for Class 8 Maths Chapter 8

NCERT Exemplar Class 8 Maths Chapter 9 Problem 3

The compound interest on Rs 50,000 at 4% per annum for 2 years compounded annually is (a) Rs 4,000, (b) Rs 4,080, (c) Rs 4,280, (d) Rs 4,050

Summary:

The compound interest on Rs 50,000 at 4% per annum for 2 years compounded annually is Rs.4080

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The compound interest on Rs. 50,000 at 4% per annum for two years compounded annually is:1) 40002) 40803) 42804) 4050

Answer

Verified

Hint: We have to find out how much Rs. 50,000 will amount to after two years if the rate of interest is given as 10% and interest is compounded annually. For this question our principal amount will be Rs. 50,000, the rate of interest will be 4% and time is 2 years. Substitute these values in the direct formula for compound interest.

Complete step-by-step answer:
We are given that the amount is Rs. 50,000 on which interest will be paid.
The amount 50,000 is our principal amount $P$.
Now, we are also given that the rate of interest is 4% which is denoted by $r$.
The time-period $\left( T \right)$ for which compound interest should be calculated is given as 2 years.
As, we know that the compound interest is calculated using the formula, $A = P{\left( {1 + \dfrac{r}{{100}}} \right)^T}$, where \[A\] is the total amount, $P$ is the principal amount, $r$ is the rate of interest and $T$ is the time-period.
On substituting the value, we get,
$
  A = 50,000{\left( {1 + \dfrac{4}{{100}}} \right)^2} \\
  A = 50,000{\left( {\dfrac{{104}}{{100}}} \right)^2} \\
  A = 50,000\left( {\dfrac{{104}}{{100}}} \right)\left( {\dfrac{{104}}{{100}}} \right) \\
  A = 5\left( {104} \right)\left( {104} \right) \\
$
Therefore, on solving we get,
$A = 54,080$
Now, we will calculate the interest by subtracting the principal amount from the total amount.
$C.I. = A - P$, where C.I. stands for compound interest.
Therefore,
 $
  C.I. = 54,080 - 50,000 \\
  C.I. = 4,080 \\
 $
Hence, option B is correct.

Note: Make sure the time period that is given in the question is in years, and if it is given in months one must convert it to years. Whenever we are given to calculate the compound interest, we first calculate the total amount and then subtract the principal amount from it.

Question

The compound interest on Rs 50,000 at 4% per annum for 2 years compounded annually in rupees is

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Solution

The correct option is B 4,080Given, P = Rs. 50000, R = 4%, T = 2 years A=P(1+R100)T=50000(1+4100)2=50000(2625)2=54080 Compound interest = A - P = 54080 - 50000 = 4080

What is the compound interest on 50000 at 4% per annum for 2 years compounded annually?

50,000 at 4% per annum for two years compounded annually is: 1) 4000.

What will the compound interest on Rupees 5000 at 4% per annum when interest is compounded quarterly?

5000 at 4% per annum is Rs. 408.

What is the compound interest on Rs 5000 for 2 years?

∴ Compound interest is Rs.1050 Learn now!

How much will Rs 50000 to 2 years at 5% interest compounded annually?

50,000 amount to in 2 years at 5% interest rate compounded annually(a) Rs. 55,000.

How do you calculate compound interest after 2 years?

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