Question

complete the compound interest on 8000 for 2 years at 15/2% quarterly

Answer 1

principal = 8000
rate = 15/2%
time 2 years 
compounded quarterly 
rate= 15/8
time= 4×2= 8 year 

amount = p [1+r/100]^n
amount = 8000 [1+15/800]^8

amount = 8000×43/40×43/40×43/40×43/40×43/40
×43/40×43/40×43/40
amount = 68800
interest = amount -principal 
compound interest = 68800-8000
= 60800
hope it helps you 
Rahul Aryan

Answer 2

Answer:

Compound interest = 8820 - 8000

Step-by-step explanation:

Given : A sum of rs 8000 for 2 years at 5% per annum compounded annually.

To find : The compound interest ?

Solution :

The compound interest formula,

A=P(1+r)^tA=P(1+r)

t

Principal=8000

Rate = 5%=0.05

Time = t= 2 years

Substitute the values,

A=8000(1+0.05)^2A=8000(1+0.05)

2

A=8000(1.05)^2A=8000(1.05)

2

A=8000\times 1.1025A=8000×1.1025

A=8820A=8820

The amount is Rs.8820.

Compound Interest = Amount -Principal

Compound interest = 8820 - 8000

Compound Interest = Rs.820.