Question

Find the compound interest on Rs. 6000 for 2 years at the rate of 8% per annum
compounded annually.

Answer 1

Answer:

A=P(1+

100

R

)

T

⇒A=6000(1+

100

9

)

2

=6000×(

100

109

)

2

= 7128.6 /-

⇒ Compound interest = A-P.

= 7128.6 - 6000

= 1128.6/-

Answer 2

Answer:

Principal-  Rs 6000

Rate-8% pa

Time- 2 years

Now,FOR THE FIRST YEAR-

Interest= P*R*T/100

6000*8*1/100 =>Rs 480

Amount=P+SI

A=480+6000 =>Rs 6480

now, Amount of 1st  year = principal of 2nd year

therefore- FOR THE SECOND YEAR-

Principal= Rs 6480

Rate=8%

INTEREST=P*R*T/100

6480*8*1/100

=>Rs 518.4

amount for 2nd year= SI+P

518.4+6480=> Rs 6998.4

Compound interest after 2 year => A-P

6998.4-6000 => Rs 998.4.