Question

A sum of RS.8000 is borrowed and rate of interest is 20% per annum, What is the Compound interest for 2years​

Answer 1

ǫᴜᴇsᴛɪᴏɴ →

A sum of RS.8000 is borrowed and rate of interest is 20% per annum, What is the Compound interest for 2years

ᴀɴsᴡᴇʀ →

We know formula for compound interest compounded quarterly

$\longmapsto\tt{Amount=P=(1 + \dfrac{r}{n})}$

CompoundInterest = Amount − Principal

Given,

$\longmapsto\tt{principal=Rs8000}$

$\longmapsto\tt{Time=9 \: months=\dfrac{9}{12} \: months}$

\longmapsto\tt{Rate=20%}

=8000(1+ 2/4)

=8000(1+0.05)³

=8000(1.05)³

=8000×1.15762=9261

Amount is Rs9261

Compound interest will be=(9261-8000)=Rs1261

Answer 2

Answer:

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