Question

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Answer 1

Question :-

Find the Amount and the Compound Interest on ₹. 8,000 for 3 Years at 8% per annum, Compounded Annually.

Solution :-

Let Principal = ₹. P ; Rate of Interest = R% p.a and Time = n Years

Then,

The Amount A is given by the Formula,

$\boxed {\bold {A = ₹.\: P \: \big(1 + \frac{R}{100}\big)^n}}$

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Using the Formula, we get -

Amount after 3 Years  $\begin {aligned} & \left [ 8,000 \times (1 + \frac{8}{100} )^3 \right]\\\\& \Rightarrow ₹. \Big [8,000 \times \frac{27}{25} \times \frac{27}{25} \times \frac{27}{25}\Big] \\\\\\& = \bold {₹. \: 10,077.70} \end {aligned}$

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Thus,

Amount after 3 Years = ₹. 10,077.70

And, Compound Interest = (₹. 10,077.70 - 8,000) = ₹. 2077.70

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Answer 2

Answer:

Find the Amount and the Compound Interest on ₹. 8,000 for 3 Years at 8% per annum, Compounded Annually.

Step-by-step explanation:

Solution

Let Principal = R. P; Rate of Interest

R% p.a and Time =n Years

Then,

The Amount A is given by the Formula,

R

A =R.P (1+ 00

Using the Formula, we get -

Amount after 3 Years

8,000x (1+8,000 x (1 +)

2727

R.8,000 25 25 25

= 7. 10, 077.70

Thus,

Amount after 3 Years R. 10,077.70

And, Compound Interest = (. 10,077.70-

8,000) = T. 2077.70