Question

Find the amount and the compound interest on 8000 for 4 years at 10% per annum
interest rec rekoned yearly.​

Answer 1

Answer:

It is given that

Principal (P) = 8000

Rate of interest (r)= 10% p.a.

Period (n) = 4 years

We know that

Amount = P(1+r/100)

n

Substituting the values

=8000(1+10/100)

4

By further calculation

= 8000×11/10×11/10×11/10×11/10

= 11712.80

Here

CI = A - P

Substituting the values

= 11712.80−8000

= 3712.80