Question

Find the amount and the compound interest on rupees 5000 for 2 years at 8% per annum compounded annually

Answer 1

Principal= RS 5000

Rate of interest=8% pa

Time=2 years

So,CI=A-P

=5000(1+8/100)^2-5000

=832

So the compound interest is RS 832

Answer 2

The amount is Rs.5832 and Compound interest is Rs.832

Step-by-step explanation:

Principal = Rs.5000

Time = 2 years

Rate of interest = 8% =0.08

$Amount = P(1+r)^t\\Amount = 5000(1+0.08)^2$

Amount = 5832

Compound interest = Amount - Principal = 5832 - 5000= 832

Hence The amount is Rs.5832 and Compound interest is Rs.832

#Learn more:

Find the difference between the simple interest and compound interest on rupees 5000 for 2 years at 9% per annum

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