Question

find the amount and compound interest on ₹2000 for 2 years at the rate of 8% per annum, when the interest is compounded annually

Answer 1

$amount = 2000 \times (1 + 8 \div 100) {}^{2} \\ = 2000.16$
$compound \: interest = 2000.16 - 2000 = .16$