Question

find the amount and compound interest on a sum of rs 8000 at 5% per annum for three years compounded annually

Answer 1

Hey mate here is your ans
Amount = P(1+r/100)^n
8000( 1+5/100)^3
8000(105/100)^3
8000(21/20)^3
8000x9261/8000
Amount =9261
CI=A-P
9261-8000
CI= 1261
please make me as a brainliest and follow me

Answer 2

Amount = Rs. 9261

Compound Interest = Rs. 1261

Step-by-step explanation:

Given that,

Principal = Rs. 8000

Rate = 5%

Time = 3 years

As we know, if the interest is compounded annually

Amount = $P (1 + r/100)^t$

= 8000(1 + 5/100)^3

= 8000(105/100)^3

= 8000 * 105/100 * 105/100 * 105/100

∵ Amount = Rs. 9261

Compount Interest = Amount - Principal

= Rs. 9261 - Rs.8000

= Rs. 1261

∵ Compound Interest = Rs. 1261

Learn more: find the amount

brainly.in/question/3295179