find the compound interest and simple interest on a sum of rupees 8000 for 2 years at the rate of 5% per annum compounded annually
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Answer:
CI=820rs
SI=rs800
Step-by-step explanation:
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P-8000
R-5%
T-2years
Amount = P(1+R/100) power t
=8000(1+5/100)power2
=8000(20+1/20)power2
=8000(21/20)power2
=8000×21/20×21/20
=8820
Compound interest=A-P
=8820-8000
=820
Simple interest=P×R×T/100
=8000×5×2/100
=800
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