Question

calculate the compound interest at rs.8000 at 9% per annum for 2 years​

Answer 1

Step-by-step explanation:

Given : rupees 8000 on 2 years 9 months @ 10% per annum compounded annually

To find : amount and compound interest.

Solution: P = 8000. R = 10 % per annum. T or n = 2 Years 9 Months. 1st we will find amount after 2 years using CI formula. A = P (1 + R/100)ⁿ A = 8000 ( 1 + 10/100)² => A = 8000 ( 1.1)² => A = 9680 Rs.

Answer 2

interest for 1st year = (P*R*T)/100

                                  = (8000*9*1)/100

                                  = Rs 720

Amount at end of 1st year = Rs (8000+720) = Rs 8720

Principal for 2nd year = Rs 8720

Interest for 2nd year = (P*R*T)/100

                                    = (8720*9*1)/100

                                    = Rs 784.8

Amount at end of 2nd year = Rs (8720+784.8) = Rs 9504.8

Compound Interest = final amount - original principal

                                  = Rs (9504.8 - 8000) = Rs 1504.8

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