Question

Find the amount and the compound interest on 8000 at 5% per annum for 2 years.
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Answer 1

Answer:

fur1

fur1

31.08.2017

Math

Secondary School

+5 pts

Answered

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

2

SEE ANSWERS

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.

Answer 2

Given :-

Principal = 8000

Rate = 5%

Time = 2 years. (n = 2)

To Find :-

The amount and Compound Interest.

Formula :-

$A\: =\: P\: (1\: +\: {\dfrac{r}{100}})^n$

On inserting the values in the formula

We get ,

$A\: =\: 8000\: (1\: +\: {\dfrac{5}{100}})^2$

$A\: =\: 8000\: ({\dfrac{100 + 5}{100}})^2$

$A\: =\: 8000\: ({\dfrac{105}{100}})^2$

$A\: =\: {\dfrac{8000 \times 105 \times 105}{100 \times 100}}$

=> A = 8820

Therefore, Amount is 8,820

CI = Amount - Principal

= 8820 - 8000

= 820

Therefore, Compound Interest is 820

Short-hands Used :-

• P = Principal
• R = Rate
• T = Time
• A = Amount
• CI = Compound Interest