Question

1. Calculate the amount and the compound interest on ? 10000 for 2 years at 8% p.a., compounded
annually.​

Answer 1

Answer:

To Find:

        Compound interest (C.I)

Given:

   Principle amount (p) = 10,000.

  Interest rate (r) = 8% per annum = 8/100 = 0.08.

  Compounded (n) = 1 year.

  Time in years (t) = 2.

Formula:

A = P(1+r/n)^nt.

A = 10,000(1+0.08/1)^2

A = 10,000(1+0.08)^2

A = 10,000(1.08)^2

A = 10,000(1.1664)

A = 11664.

Now, we need to find the C.I

C.I = A - P

C.I = 11664 - 10,000

C.I = 1664.

Step-by-step explanation:

Answer 2

Answer:

Amount= 11664 and CI = 1664