Question

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

Answer 1

Answer:

Given,

Principal = Rs.8000

Rate = 5%

Time = 2 years

Find,

Compound interest and amount

Step-by-step explanation:

So,

we know the formula of compound interest

is P(1+R/100) ^T

=> 8000 (1+5/100)²

=> 8000 (105/100)²

=> 8000 * 105/100 * 105/100

=> 84 * 105

=> Rs. 8820

Than,

we can use amount formula in compound interest

A = C.P. - P

=> Rs.8820 - Rs.8000

=> Rs.820

Answer 2

⇒ Compound interest (C.I)=P[(1+

100

r

)

t

−1]

P= Principal r= rate, t= time

⇒ C.I. =8000[(1+

100

5

)

2

−1]

=8000[

1000

25

+

100

10

]=8000[

10000

25+1000

]

⇒C.I=

10

8

[1025]=14.820.

solution