Question

calculate the compound interest earned and the amount due if a sum of 8000 invested for 2 years at 15 % per annum compound interest interest being compounded annually

Answer 1

Step-by-step explanation:

principal = 8000

time = 2 years

Rate = 15%

according to question

S.I = P × T× R / 100

8000× 2 × 15 / 100

S.I = 2400

hope it is helpful

Answer 2

Step-by-step explanation:

An amount of Rs.8000 is invested for 2 years at interest rate of 15% per annual and compunded annually. At the end of 2nd year how much amount will be obtained as interest?

A

Rs. 2902.50

B

Rs. 2900.50

C

Rs. 2899.50

D

Rs. 2899

Compound Interest