Question

7. Harish deposited * 10,000 in a bank paying interest at the rate of 8% per annum. Find the amount due
to him at the end of 1
years.
1
2​

Answer 1

Hey Mate!!

Given ;

Harish Deposited = ₹ 10,000 = principle (P)

Interest = 8% per annum = rate of interest (R)

Time = 1 year = n

Amount (A) = ?

Now, We know that ;

A = $P[{1 + \frac{r}{100} } ]^{n}$

A = $10000 \times [ {1 + \frac{8}{100 }}]^{1}$

A = $10000 \times [ 1 + \frac{2}{25}]$

A = $10000 \times [\frac{27}{25}]$

A = 10,800

Therefore,

Therefore,Compound interest = $</strong><strong>A</strong><strong> - </strong><strong>P</strong><strong>$

= $10800 - 10000$

Compound Interest = ₹800

Therefore, Amount = ₹10,800

Compound Interest = ₹800

Hope this helps you!!