Question

Find the Amount Of Compound Interest Principle (Rs) 8000, Rate=10, Duration=2 yrs​

Answer 1

Answer:

1680

Step-by-step explanation:

 Calculating compound interest for 1st year:

A = 8,000 (1 + 0.1/1)(1)(1)

A = 8,000 (1 + 0.1)(1)

A = 8000 (1 + 0.1)

A = 8000 (1.1)

A = 8800

The amount at the end of the 1st year is 8800.

Now, let's calculate the compound interest of 2nd year:

A = 8,800 (1 + 0.1/1)(1)(1)

A = 8,800 (1 + 0.1)(1)

A = 9680

The amount at the end of 2nd year is 9680.

Therefore, compound interest = 9680 - 8000 = Rs.1680.