Question

8. The compound interest on Rs 50,000 at 4% per annum for 2 years compounded annually is
(a) Rs 4,000 (b) Rs 4,080 (c) Rs 4,280 (d) Rs 4,050

Answer 1

Answer:

Compund Interest will be (b) Rs . 4080

Step-by-step explanation:

When compounded anually,

Total Amount = Principal(1 + Rate/100)^Time period

                       = 50000 (1 + 1/25) ^ 2

                       = 50000 (26/25) (26/25) = 54080

Compound Interest = Total Amount - Principal

                                 = 54080 - 50000 = 4080

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Answer 2

Answer:

b) Rs 4,080

Step-by-step explanation:

C.I = P( 1 + R/100)^T - P

C.I = 50,000(1 + 4/100)^2 - 50,000

C.I = 50,000( 104/100*104/100) - 50,000

C.I = 5*104*104 - 50,000

C.I = 54080 - 50,000

C.I = 4080

Hence the answer is b) Rs 4080

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