Question

Find the amount and the compound interest on₹ 8000 at 5% per annum, for 2 years compounded annually​

Answer 1

Answer:

Amount = P× (1+R/100) power n

= 8000×(1+5/100)^2

= 8000×(100+5/100)^2

= 8000×105/100×105/100

= 8820

Compound Interest = Amount - Principal

= 8820 -8000

= 820