Question

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

Answer 1

Step-by-step explanation:

Amount

$amount = 8000 {(1 + \frac{6}{100} )}^{2} \\ \\ = 8000 \times { (\frac{106}{100}) }^{2} \\ \\ = 8000 \times \frac{106 \times 106}{10000} \\ \\ = 8988.80 \\ \\ interest = 8988.80 - 8000 \\ \\ \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: = 988.80$

Answer 2

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

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• Principal = Rs 8000
• Time period = 2 years
• Rate = 6 %

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• amount
• compound interest

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Amount is given by the formula ,

$\implies \boxed{\mathtt{A = P{(1 + \dfrac{R}{100} ) }^{n} }}$

here ,

• P = Rs 8000
• R = 6
• n = 2

Substituting the values in the above equation ,

$\rightarrow \mathtt{A = 8000{(1 + \dfrac{6}{100} ) }^{2} }$

$\rightarrow \mathtt{A = 8\cancel{000 }\times \dfrac{106}{ 1\cancel{00}} \times \dfrac{106}{10 \cancel0} }$

$\rightarrow \mathtt{A = 8\times 1123.6}$

$\rightarrow \mathtt{A =Rs \: 8989}$

Amount = Rs 8989

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Compound interest

= Amount - principal

= 8989 - 8000

= Rs 989

Compound interest = Rs 989

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Hope this helps :D