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

A) Rs.8820 B) Rs.8620 C) Rs.8520 D) Rs.8320

Answer 1

Answer:

a is the answer it is correct you can trust me

Answer 2

Answer:

Albert will get an amount of ₹ 8820. (option A).

Step-by-step explanation:

Given, Principal = ₹ 8000

Time = 2 years

Rate = 5 %

A = P(1+R/100)²

A = 8000(1+5/100)²

A = 8000(1+1/20)²

A = 8000×21/20×21/20

= 20×21×21 = 20×441 = 8820 (ans).

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