Question

2. Find the amount and compound interest on
(i) Rs 10,000 in 3 years at 8%
per annum​

Answer 1

Step-by-step explanation:

Principal (P) = Rs. 10,000

Rate (R) = 8%

Time (T) = 1 year

∴ Interest = (10,000 × 8 × 1)/100 = 100 × 8 = Rs. 800

For 2nd year

P = Rs. 10,000 + Rs. 800 = Rs. 10,800

Rate (R) = 8%

Time (T) = 1 Year

∴ Interest = (10,800 × 8 × 1)/100 = 108 × 8 = Rs. 864

For 3rd year

∴ P = Rs. 10,800 + Rs. 864 = Rs. 11664,

R = 8%

T = 1 Year

∴ Interest = (11664 × 8 × 1)/100 = (11664 × 2)/25

= Rs. 933.12

∴ Amount = Rs. 11664 + 933.12 = Rs. 12597.12

Hence required amount = Rs. 12597.12

∴ Compound interest

= Rs. 12597.12 – 10000 = Rs. 2597 . 12

Answer 2

Answer:

Am₹12597.12

CI=₹2597.12