Question

find the amount and compound interest on ₹ 5000 for 2 year at 8 % per anumm , compounded annually

Answer 1

Amount = Principal (1+R/100)^T
= 5000(1+8/100)^2
= 5000*108/100 *108/100
= 5832
Compound Interest = A -P= 5832-5000= Rs 832