Question

Calculate the amount and compound interest on rupees 8500 for 2 years 8 percent per annum?​

Answer 1

Step-by-step explanation:

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Answer 2

Answer:

• Amount (A) = Rs. 9911
• Compound Interest (CI) = Rs. 1411

Step-by-step explanation:

Given:

• Principal amount (P) = Rs. 8500
• Time (n) = 2 years
• Rate (r) = 8%

To Find:

• Amount and compound interest.

Formula used:

• $\sf{Amount\;(A)=P\Bigg(1+\dfrac{r}{100}\Bigg)^{n}}$

• $\sf{Compound\;Interest\;(CI)=Amount-Principal\;amount}$

Now, first we will calculate amount,

$\sf{\implies Amount\;(A)=P\Bigg(1+\dfrac{r}{100}\Bigg)^{n}}$

$\sf{\implies Amount\;(A)=8500\Bigg(1+\dfrac{8}{100}\Bigg)^{2}}$

$\sf{\implies Amount\;(A)=8500\Bigg(1+\dfrac{2}{25}\Bigg)^{2}}$

$\sf{\implies Amount\;(A)=8500\Bigg(\dfrac{25+2}{25}\Bigg)^{2}}$

$\sf{\implies Amount\;(A)=8500\Bigg(\dfrac{27}{25}\Bigg)^{2}}$

$\sf{\implies Amount\;(A)=8500\Big(1.08\Big)^{2}}$

$\sf{\implies Amount\;(A)=8500\times 1.166}$

${\boxed{\boxed{\bf{\implies Amount\;(A)=Rs.\;9911}}}}$

Now, we will calculate compound interest.

$\sf{\implies Compound\;Interest\;(CI)=Amount-Principal\;amount}$

$\sf{\implies Compound\;Interest\;(CI)=9911-8500}$

${\boxed{\boxed{\bf{\implies Compound\;Interest\;(CI)=Rs.\;1411}}}}$