Question

find the compound interst on rs8000 at 6% per annum for two years compounded annually​

Answer 1

AnswEr :

$\bold{Given} \begin{cases} \sf{Principal=Rs. 8000} \\ \sf{Rate=6\% \: p.a.} \\ \sf{Time=2\: Yr. } \\ \sf{Compound \: Interest = ?}\end{cases}$

• we know the Formula for CI :

$\leadsto\sf{CI= P\bigg[\bigg(1 + \dfrac{r}{100} \bigg)^{t} -1}\bigg]$

$\leadsto\sf{CI= 8000\bigg[\bigg(1 + \cancel\dfrac{6}{100} \bigg)^{2} -1}\bigg]$

$\leadsto\sf{CI= 8000\bigg[\bigg(1 + \dfrac{3}{50} \bigg)^{2} -1}\bigg]$

$\leadsto\sf{CI= 8000\bigg[\bigg( \dfrac{50 + 3}{50} \bigg)^{2} -1}\bigg]$

$\leadsto\sf{CI= 8000\bigg[\bigg(\dfrac{53}{50} \bigg)^{2} -1}\bigg]$

$\leadsto\sf{CI= 8000\bigg[\dfrac{2809}{2500} -1}\bigg]$

$\leadsto\sf{CI= 8000\bigg[\dfrac{2809 - 2500}{2500}}\bigg]$

$\leadsto\sf{CI= \cancel{8000} \times \dfrac{309}{\cancel{2500}}}$

$\leadsto\sf{CI=Rs.(3.2 \times 309)}$

$\leadsto \boxed{\sf{CI=Rs. \: 988.8}}$

⠀

∴ Compound Interest will be Rs. 988.8