Question

Find the amount and compound interest on ₹8000 at 7%per annum for 3
years

Answer 1

Hello mate
Here's ur answer


Principal = 8000
rate = 5%
time = 2 years ( 2 terms)

Amount = P(1+ R/100)^n
= 8000(1+5/100)²
= 8000* (1+1/20)²
= 8000 *( 21/20)²
= 8000 * 441/400
= 20 * 441 = 8820 /-

:. CI = Amount - Principal
= 8820 - 8000
=. 820.


Hope it helpful