Find the amount and the compound Interest on Rs8000 at 5per annum for 2years compound annually
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Given: P=8000,R=5%, T=2 years
Amount=P×(1+ R/100)^T
=8000×(1+ 5/100)^2
=8000×(1.05) ^2
=8820
CI=Amount–Principle=8820–8000=820
∴ The amount is Rs.8820 and the compound interest is Rs.820.
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