Question

Q7. Find the compound interest on 8000 at 10% per annum for 2 years compounded anually​

Answer 1

Answer:

1600 is the answer of your question

Answer 2

Answer:

Rs 8000 draws an interest of Rs 800 on the first year at 10% per annum rate of interest.

Second year the principal will be Rs8000(principal)+Rs800(interest)=Rs8800.

Interest on Rs 8800 for second year at 10% per annum rate of interest would be Rs 880.

Amount accumulated at the end of 2nd year Rs8800+Rs880=Rs9680.00

Compound Interest of two years is Rs9680–Rs8000=Rs1680.

Step-by-step explanation:

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