Question

calculate the amount and compounded interest on rs. 18000 for 2 years at 8% per annum compounded annually​

Answer 1

➤ Given :-

Principle (P) :- ₹ 18000

Time (T) :- 2 years

Rate of interest (R) :- 8%

➤ To Find :-

Compound interest on the given sum................

➤ Formula :-

$\bf \orange {\bigstar \: {\underline {\underline {P \times R \times T \div 100 + P }}}}$

➤ Solution :-

$\dashrightarrow \sf \frac{18000 \times 8 \times 2}{100} + 18000$

$\dashrightarrow \sf \frac{ \cancel{18000} \times 8 \times 2}{ \cancel{100}} = 180 \times 8 \times 2$

$\dashrightarrow \sf2880$

$\Huge\therefore$The amount(compound interest) is ₹ 2880.