Question

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

Answer 1

Given- P=Rs 8000, R=7%, n=3 yrs
As Amount= P(1+r/100)^n
= 8000(1+7/100)^3
= 8000(107/100)^3
= 8000(1225043/1000000)
= 8×1225043/1000
= Rs. 9803.44

CI= A-P
= Rs(9803.44-8000)
= Rs 1803.44

Now, Amount=Rs 9803.44 and CI=Rs 1803.44

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Answer 2

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.