Question

find the amount and compound interest on ₹8000 at 5% per annum for 2 years

Answer 1

Amount = 8000 (1 + 5/100)^2

= 8000 * 21/20 * 21/20

= 20 * 21 * 21

= 8820

Interest be 8820 - 8000 = 820

amount 8820

interest 820

Answer 2

HEY THERE!! How are you doin?

The general formula to find the amount for compound interest is $principle ( 1 + \frac{r}{100})^{t}$

p = 8000

r = 5%

t = 2 years

$8000 ( 1 + \frac{1}{20} )^{2}$

( 8000 ) ( 441 / 400 )

( 441 ) ( 20 )

= 8820 rupees is the amount

Amount = principle + interest

8820 = 8000 + i

i = 8820 - 8000

interest = 820 rupees

HOPE MY ANSWER HELPS!