Question

8. Find the compound interest on 1000 for 2 years at 4% per annum compounded annually.​

Answer 1

Given :-

Principal = Rs. 1000

Time = 2 years

Rate = 4 %

To Find :-

Compound interest

Solution :-

We know that

$\sf A=P\bigg(1+\dfrac{R}{100}\bigg)^n$

A = 1000(1 + 4/100)²

A = 1000(100 + 4/100)²

A = 1000(104/100)²

A = 1000 × 104/100 × 104/100

A = 1,081.6

Now

CI = A + P

CI = 1081.6 + 1000

CI = 2081.6

Answer 2

Answer:

Principal for first year = 1000

Time = 2Years

Rate = 4%

S. I. = P×R×T÷100

1000×4×1÷100

=. 40

Amount =1000+40=1040

Principal for second year= 1040

S. I. = P×R×T÷100

S.I. = 1040×4×1÷100= 41.06

Amount = 1040+41.06=1081.06

COMPOUND INTEREST FOR TWO YEARS = 1081.06- 1000= 81.06

ANSWER = 81.06

HOPE IT HELPS YOU

PLZ MARK ME BRAINLEST