Question

Calculate the amount and compound interest on Rs 10800 for 2 years at 8% per annum.​

Answer 1

Answer:

Amount is 11,681 Rupees and compound interest is 881 Rupees.

Step-by-step explanation:

Here, P=10,800

          n=2 years

          r=8%

Amount=

               $A=P(1+\frac{R}{100})^n\\ \\ =10,800(1+\frac{8}{100})^2\\ \\ =10,800(1+\frac{2}{50} )^2\\ \\ =10,800(\frac{50+2}{50})^2\\ \\ =10,800(\frac{26}{25} )^2\\ \\ =10,800(\frac{676}{625} )\\ \\ =\frac{73,00,800}{625} \\ \\ =11,681.28$

Compound Interest=Amount-P

                                11,681.28-10,800

                           =881.28

Answer 2

Answer:

CI = 1,797.12

Amt = 12,597.12

Step-by-step explanation:

Given

Principle = 10,800

Time = 2 yrs

Rate of interest = 8%

Amt = principle + Interest

$CI = p[(1+i)^n-1]$

$CI = 10,800[(1 + 0.08)^2-1]$

$CI = 10,800[(1.08)^2-1]$

$CI = 10,800 * 0.1664$

$CI = 1,797.12$

Amt = Principle + Interest

Amt = 10,800 + 1,797.12

Amt = 12,597.12