Question

Find the compound interest on 6000 for 2 years at 8% perannum. with method

Answer 1

Answer:

6000*2*8/100= 960

Step-by-step explanation:

Answer 2

Answer:

Principal (P₁) = ₹6000

Time = 1 year

Rate = 8%

Interest (I₁) = (P X R X T) / 100

                 = (6000 X 8 X 1) / 100

                 = ₹480

Amount (A₁) = P₁ + I₁

                   = 6000 + 480

                   = ₹6480

Principal(P₂) = Amount(A₁)

So, P₂ = ₹6480

     Interest (I₂) = (6480 X 8 X 1) / 100

                        = ₹518.40

Amount(A₂) = P₂ + I₂

                   = 6480 + 518.40

                   = ₹6998.40

Compund Interest = A₂ - P₁

                              = 6998.40 - 6000

                              = ₹998.40

Step-by-step explanation:

HOPE IT HELPS :)