8,000 is lent at 5 percent compound interest per year for 2 years. Find the amount
and the compound interest.
Answers
Answered by
18
Answer:
Principal = 8000
rate = 5%
time = 2 years ( 2 terms)
Amount = P(1+ R/100)^n
= 8000(1+5/100)²
= 8000* (1+1/20)²
= 8000 *( 21/20)²
= 8000 * 441/400
= 20 * 441 = 8820 /-
:. CI = Amount - Principal
= 8820 - 8000
=. 820.
Hope it helps!
Similar questions