Question

P = 50,000
R = 8%
T = 2 years
I =???
A = ???​

Answer 1

Answer:  

Step-by-step explanation:

 

Answer 2

Given :

P = 50,000

R = 8%

T = 2 years

To Find : I and A

I = Interest

A = Amount

Solution:

Case 1 :  Simple Interest

P = 50,000

R = 8%

T = 2 years

SI = P * R * T /100

=> SI = 50000 * 8 * 2 /100

=> SI = 8000  

A = P + SI

=> A = 50000 + 8000

=> A = 58000

Case 2 :  Compound Interest

P = 50,000

R = 8%

T = 2 years

$A=P(1 + \frac{R}{100})^T$

A = 50000 ( 1 + 8/100)²

=> A = 58320

CI = 58320 - 50000

=> CI = 5320

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