Question

Find out the compound interest of a sum of rs 10000 for 2year at a rate 8%per annum. If the interest is added yearly

Answer 1

P = Rs 10000
T = 2 years
R = 8°/•
A = P (1 + R/100)^T
= 10000 (1 + 8/100)^2
= 10000 (1 + 2/25)^2
= 10000 [(25 + 2)/25]^2
= 10000 (27/25)^2
= 10000 × 27/25 × 27/25
= 16 × 27 × 27
= 11664
C.I.= A - P
= 11664 - 10000
= Rs. 1664

Answer 2

$<b > Ello!!$

Here's your answer

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Given ,

Principal ( p ) = Rs 10,000

Time ( n ) = 2 years

Rate per annum ( r % ) = 8 %

°•° It's a compound interest so using the identity ,

•°• Compounded money is 2 years ,

= p ( 1 + r / 100 )ⁿ

= 10000 ( 1 + 8 / 100 )² [ • Putting the values ]

= 10000 × 108 / 100 × 108 / 100

= 108 × 108 [ • See the attachment ]

= 11664

Now , compound interest ,

= ( compounded money - principal )

= ( 11664 - 10000 )

= 1664 [ ★ Required answer ]

So , the compound interest is Rs 1664.

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Hope it helps!!