Question

100
Exercise 11.3
Calculate the compound interest and amount
by using the formula, if interest is
compounded annually.
(i) Principal = 800; Time = 3 years; Rate = 10%
per annum.
(ii) Principal = 16,000; Time = 2 years; Rate = 8%
per annum.​

Answer 1

Answer:

(i) CI=800×3×10/100=240

Amount=800+240=1040

CI=1040×3×10/100=312

Amount=1040+312=1352

CI=1352-1040=312