Question

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

Answer 1

Answer:

principal = 8000

rate = 5%

time = 2 years ( 2 terms)

Amount = P(1+ R/100)^n

= 8000(1+5/100)²

= 8000* (1+1/20)²

= 8000 *( 21/20)²

= 8000 * 441/400

= 20 * 441 = 8820 /-

:. CI(compound interest) = Amount - Principal

= 8820 - 8000

=820