the amount of ₹8000 for 2 years at 5 percent p.a is
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8th
Maths
Comparing Quantities
Compound Interest
Find the amount of the comp...
MATHS
Find the amount of the compound interest on Rs. 8000 at 5% per annum for 2 years.
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ANSWER
⇒ Compound interest (C.I)=P[(1+
100
r
)
t
−1]
P= Principal r= rate, t= time
⇒ C.I. =8000[(1+
100
5
)
2
−1]
=8000[
1000
25
+
100
10
]=8000[
10000
25+1000
]
⇒C.I=
10
8
[1025]=14.820.
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