Rs 30000 is lent at compound interest of 7 % per annum for 2 years. Find out the amount after two years. Option 1: Rs 34000 Option 2: Rs 43437 Option 3: Rs 34347 Option 4: Rs 33449

Answer: Rs 34347. Solution: Principal (P) = Rs 30,000 Rate (R) = 7% per annum Time (T) = 2 years The compound interest formula is: A = P(1 + R/100)^T where A is the final amount. Substituting the values: A = 30,000(1 + 7/100)^2 A = 30,000(1 + 0.07)^2 A = 30,000(1.07)^2 Calculating (1.07)^2: 1.07 x 1.07 = 1.1449 Therefore: A = 30,000 x 1.1449 A = 34,347 The amount after two years is Rs 34,347.

Arithmetic

Simple & Compound Interest

Easy

Rs 30000 is lent at compound interest of 7 % per annum for 2 years. Find out the amount after two years.

Rs 34000

Rs 43437

Rs 34347

Rs 33449

✅ Correct Option: 3

Principal (P) = Rs 30,000

Rate (R) = 7% per annum

Time (T) = 2 years

The compound interest formula is:

$A = P(1 + \frac{R}{100})^T$

where A is the final amount.

Substituting the values:

$A = 30,000(1 + \frac{7}{100})^2$

$A = 30,000(1 + 0.07)^2$

$A = 30,000(1.07)^2$

Calculating $(1.07)^2$ :

$1.07 \times 1.07 = 1.1449$

Therefore:

$A = 30,000 \times 1.1449$

$A = 34,347$

The amount after two years is Rs 34,347.

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Solution

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