Question

Find the amount and compound interest on rs 8000 for 2 years at 6% per annum , compounded annually .​

Answer 1

Answer:

$here \\ \: p = 8000 \\ \: n = 2 \\ r = 6 \\ amount \: = p \times {(1 + \frac{r}{100} )}^{n} \\ = > amount = 8000 \times {(1 + \frac{6}{100} )}^{2} \\ = > amount = 8000 \times {( \frac{106}{100} )}^{2} \\ = > amount = 8000 \times \frac{106}{100} \times \frac{106}{100} \\ = > amount \: = 8000 \times \frac{11236}{10000} \\ = > amount = 8 \times \frac{11236}{10} = \frac{89888}{10} = 8988.8 \\ compoun \: interest = amount - principal \\ = > compound \: interest = 8988.8 - 8000 = 988.8$

So , Amount paid at the end of 2nd year = Rs. 8988.80

and Compound interest = Rs.988.8

Answer 2

Answer:

CI =988.8

Step-by-step explanation:

hope my explanation helps you