Question

Albert 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 albert get on maturity of the fixed deposit ?

Answer 1

Answer:

2400

Step-by-step explanation:

because the intrest of 5percent is 1200 of 1year.

so the interest of 2year is1200+1200=2400

Answer 2

Answer:

Rs.8,820

Step-by-step 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