Question

Find the compound interest on Rs.12000 at the rate of 8% p.a. for 2years compounded annually.

Answer 1

principal= Rs.12000

rate = 8%per annum

time =2years

A= p×[ 1+r/100]^2

A=12000[1+8/100]^2

A=12000[1+2/25]^2

A=12000[27/25]^2

A= 12000×27/25 ×27/25

A=96×27×27/5

Amount = Rs. 13,996.8

CI= A-P

CI= 13,996.8-12000

CI= Rs. 1996.8

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