Question

Find the compound interest of Rs. 8000 at the rate of 122% per anum for two years. 02​

Answer 1

Answer:

Detailed Solution. ∴ Rs. 1240 is the compound interest earned

Step-by-step explanation:

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Answer 2

Answer:

Step-by-step explanation:

Principal for the first 1st year=₹ 8000.

Interest for the 1st year=₹ [8000 x 122% x 1]

                                          [8000 x 122/100 x 1] = ₹ 9,760

Amount at the end of 1st year=₹ (8000 + 9,760) = ₹ 17,760

Principal for the 2nd year = ₹ 17,760

Interest for the 2nd year = ₹ [17,760 x 8% x 1]

                                              [17,760 x 8/100 x 1] = ₹ 1420.8

Amount at the end of 2nd year = ₹ (17,760 + 1420.8) = ₹ 19180.8

                              ∴, C.I. for 2 years = (Amount) - (Original Principal)

                                                            = ₹ (19180.8 - 8000)

Therefore,Amount = ₹ 19,180.8 and C.I. = ₹ 11180.8