Question

1. (a) If Rs 4,800 is invested at a compound interest rate of 10% per annum then find
(i) the amount after 2 years (ii) the interest earned in 2 years
interest on Rs 8,000 for 3 years at 5% p.a.​

Answer 1

Answer:

(i)Rs 1008 is required interest  

Step-by-step explanation:

Using Compound interest formula = P(1+r/100)^n

4800(1+10/100)^2

4800 × 110/100 ×110/100

5808 is the required amount after 2 years

The compound interest = Amount - Principal

5808 - 4800=1008

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