Question

find the compound interest and amount for Rs 8000 for 2 years at 10% per annum compounded annually.​

Answer 1

Answer:

CI = 1,680

Step-by-step explanation:

Given:

Principle (P) = 8,000

Rate (R) = 10% i.e. 0.10%

Time (N) = 2 yrs

$CI = P[(1 + i)^n-1]$

$CI = 8,000[(1 + 0.10)^2-1]$

$[(1.10)^2-1] = 0.21$

$CI = 8,000 * 0.21 = 1,680$

Amt = P + I = 9680