Question

(b) Principal = 7 8000, Rate = 8% pa, Time = 2 years
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Answer 1

${\sf{\bold{{Given\: :-}}}}$

Principal = 78,000

Rate = 8%

Time = 2 years.

${\sf{\bold{To\: Find\: :-}}}$

The Compound interest

${\sf{\bold{Solution\: :-}}}$

Formula :-

${\sf{Amount\: =\: P\: \bigg(1\: +\: {\dfrac{r}{100}}\bigg)^n}}$

Using formula for giving values :-

${\sf{\implies\: Amount\: =\: 78000\: \bigg(1\: +\: {\dfrac{8}{100}}\bigg)^2}}$

${\sf{\implies\: Amount\: =\: 78000\: \bigg({\dfrac{108}{100}}\bigg)^2}}$

${\sf{\implies\: Amount\: =\: 78000\: \times\: {\dfrac{108}{100}}\: \times\: {\dfrac{108}{100}}}}$

${\sf{\implies\: Amount\: =\: 90,979.2}}$

Compound interest = Amount - Principal

= 90,979.2 - 78000

= 12,979.2

${\sf{\huge{\boxed{\boxed{\purple{Answer\: =\: 12,979.2}}}}}}$