Question

Find CI on a sum of RS 8000for 2 years at 5% per annum compounded annually
I

Answer 1

C.I. on first year=8000*1*5/100=400

New p=8000+400=8400

C.I on second year=8400*1*5/100=420

C.I on two year=8400+420=8820

A=P+C.I.=8000+8820=16820