Question

calculate the amount and the compound interest on 1000 for 2years at 8%p.a​

Answer 1

Amount = p(1+ r/100)²

= 1000( 1+ 8/100)²

=1000( 1+ 2/25)²

= 1000( 27/25)²

= 1000× 27/25× 27/25

amount = 1166.4

CI = AMOUNT - PRINCIPAL

CI= 1166.4-1000

CI= 116.4

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