Question

₹ 8,000 is lent at 5% compound interest per year for years. Find the amount and the compound interest.​

Answer 1

Answer:

Given Principal Amount= P= 8000

Rates of interest Per annum=i =5%

Time=n=2years

Compound Interest = P[ (1+i)^n - 1]

=8000[ (1+5/100)^2 - 1]

=8000[(1 + 0.05)^2 -1]

=8000[ (1.05)^2 - 1]

=8000[1.1025 - 1]

=8000[0.1025]

=820 is the Compound Interest...

Then compounded Amount = Principal Amount + Compound Interest

=8000 + 820 =8820 is the Compounded

amount

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