Question

Akash invested an amount of rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. how much amount will akash get on maturity of the fixed deposit?

Answer 1

$amount = p(1 + r \div 100) {?}^{2}$

$a = 8000(1 + 5 \div 100) {?}^{2}$

A= 8820

Answer 2

Answer:

8,820

Explanation:

Invested amount = Rs.8000(p)

Interest rate per annum = 5%(R)

Years = 2(N)

So C.I = P[1+R100]^N

=  8000[1+5100]^2

= 8000[1+0.05]^2

= 8000[1.05]^2

= 8000[1.1025]

=Rs.8,820