Question

Albert invested Rs. 8000 in a scheme for 2 years at compound interest rate 5% p.a. How much amount will Albert get on maturity of the fixed deposit ?

Answer 1

100%= 8000
1%= 80
( CI ) 10.25 % = 80× 10.25 = 820
amount = 8000+820= 8820 will be the answer

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