Question

EXERCISE 2.1
Find the amount and the compound interest on rs/-8000 at 5% per annum for 2 years
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Answer 1

Answer:

8000 at 5% per annum, for 2 years compounded annually. =. 820.

Step-by-step explanation:

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Answer 2

Answer:

CI = 820

Step-by-step explanation:

Here P=8000; i=5%;n=2

An=P [1+i ]^n

8000[1+0.05]^2

8000[1.05]^2

8000[1.1025]

8820

CI=Amount-Principal

= 8820-8000

= 820