Question

Asha invested a sum of Rs. 8000 in a fixed deposit for two years at compound interest of 5 % per annum. How much Asha will get on the maturity of the fixed deposit?

Answer 1

P = Rs. 8000

t = 2 years

r = 5%

A = P (1+r100)t

= 8000 (1+5100)2

= 8000 (105100)2

= 8000 105100×105100 = Rs.8820

Part of solved Simple and compound interest questions and answers