Question

Find the amount on ₹ 18000 for 2 years at the rate of 8 % p.a. compounded annually. Also find the interest.​

Answer 1

Step-by-step explanation:

P = Rs. 18000

T = 2 years

R% = 8% p.a

( n = Time)

A= P(100+r%) /100) n

18000(100+8)/100)

18000 ( 108/100)²

18000 ×27/25 × 27/25

A = 20995.2

CI = A-P

= 20995.2 - 18000

CI =995.2 /- (Ans)

Answer 2

Given:

Principal = Rs. 18,000

Time = 2 years

Rate = 8%

To Find:

Amount compounded annually and the interest

Solution:

Amount = P ( 1+r/100)`n

= 18000 ( 1 + 8/100)²

= 18000 ( 27/25 )²

= 18000 × 27/25 × 27/25

= 28.8 × 27 × 27

= 20,995.2

Now,

Amount = Principal + Interest

20,995.2 = 18,000 + Interest

Interest = 20,995.2 - 18000

= 2995.2

Answer: The amount compounded annually is Rs. 20,995.2  and the interest is Rs. 2995.2