Question

Calculate the amount and compound interest on rs 12000 in 2 years and at 8% per year .

2

Answer 1

Answer:

12830.4 -amount

compound interest-830.4

Answer 2

Principal = Rs. 12000

Time = 2 years

Rate = 8% per annum

According to question

For 2 years:

$amount = (1 + \frac{r}{100})^{t}$

$=(\frac{100 + 8}{100})^{2}$

$= ( \frac{108}{100})^{2}$

$= \frac{108}{100} \times \frac{108}{100}$

$= \frac{11664}{10000}$

$= 1.1664$

Therefore, Amount = Rs. 1.1664

$compound \: interest \: = amount \: - \: principle \:$

$= 1.1664 - 12000$

$= - 11998.83 36$