Question

Find The amount and compound interest on ₹8000 at 5% for 2 years.

Answer 1

⇒ Compound interest (C.I)=P[(1+  

100

r

​

)  

t

−1]

P= Principal r= rate, t= time

⇒ C.I. =8000[(1+  

100

5

​

)  

2

−1]

=8000[  

1000

25

​

+  

100

10

​

]=8000[  

10000

25+1000

​

]

⇒C.I=  

10

8

​

[1025]=14.820.