Question

The Comound interest on Rs. 50,000 at 8% per annum for 2 years , compounded annually is
a) Rs. 8000
b) Rs. 8350
c) Rs. 8320
d) Rs. 8640 ​

Answer 1

Answer:

Step-by-step explanation:

compound interest=PRT/100 50000 8 2/100 =8000

Answer 2

Step-by-step explanation:

the question, we have:

P = Rs.50000, r = 8% and t = 3 years.

Compound interest(CI)=Amount–Principal=A–P

⇒CI=A–P.

Putting the values in the above equation, we have:

CI=Rs.62985.6–Rs.500000=Rs.12985.6.

Hence, the required compound interest =Rs.12985.6