Question

The compound interest on₹ 8000 at 10% p.a for 2 years is:​

Answer 1

Answer:

Rs 1680

Step-by-step explanation:

Here Principal (P) = Rs. 8,000

Rate of interest = 10%

Interest for the first year = (8,000 × 10 × 1)/100

= Rs. 800

(ii) ∴ Amount = Rs. 8,000 + Rs. 800 = Rs. 8,800

Thus principal for the second year = Rs. 8,800

(iii) Interest for the second year

= (8,800 × 10 × 1)/100 = Rs. 880

(iv) Amount at the end of the second year = Rs.

8,800 + Rs. 880 = Rs. 9,680

(v) Hence compound interest earned in 2 years

= Rs. 9,680 – Rs. 8,000 = Rs. 1680

Answer 2

Amount= 8000(1+0.01)^2
= 8000(1.01)(1.01)
=9680
CI= 9680-8000=₹1680