Question

a sum of₹8000 is invested for 2 years at 10% per annum compound interest calculate interest for the first year principal for the second year interest for the second year final amount at the end of the second year compound interest earned in 2 year

Answer 1

for the 1st year,
principal=Rs.8000
time=1 yrs
rate of interest=10%

simple interest=p*r*t/100
8000*10*1/100=rs.800

for the 2nd year,
p=rs.(8000+800)=rs.8800
t=1 yr
r=10%

S.I=8800*1*10/100=rs.880
amount=P +S.I=rs.(8800+880)=rs.9680

C.I=FINAL amount-ORIGINAL principal
=Rs.(9680-8000)=rs.1680(ANSWER)

Answer 2

Answer:

for the 1st year,

principal=Rs.8000

time=1 yrs

rate of interest=10%  

simple interest=p*r*t/100

8000*10*1/100=rs.800  

for the 2nd year,

p=rs.(8000+800)=rs.8800

t=1 yr

r=10%  

S.I=8800*1*10/100=rs.880

amount=P +S.I=rs.(8800+880)=rs.9680

C.I=FINAL amount-ORIGINAL principal

=Rs.(9680-8000)=rs.1680(ANSWER)