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

Answer:

10580

Step-by-step explanation:

Mark as brainleast

follow to be followed

Answer 2

Answer:

Rupees 2580

Step-by-step explanation:

Formula for calculating amount in compound interest is :

P X (1+r/100)^n

Here, P = 8000, r = 15%, n = 2.

According to the formula,

Amount = 8000 X (1+15/100)^2

             = 8000 X (1+ 3/20 )^2

             =8000 X ( 23/20 )^2

              =8000 X 529/400

              =20 X 529 = 10,580

So the amount is Rupees 10580.

Compound Interest = Amount - Principle

                                 =10580 - 8000 = 2580.

So the Compound Interest is Rupees 2580 .