Question

A sum of 10000 rs is invested at a rate of 8% per year for 12 months. Find compound interest

Answer 1

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Amount =
$p \times (1 + \frac{r}{100} ) {}^{n}$



we know that 1 year = 12 months


so, Time period = 1 year


$10000 \times (1 + \frac{8}{100})$



$10000 \times \frac{108}{100}$


$= 10800$


So, amount = 10800

C.I = AMOUNT - PRINCIPAL


C.I = 10800 - 10000


C.I = 800


Hope it helps you

Thanks for asking.....



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