Question

The compound interest on a sum of Rs.8000 for 2 years at 5% per annum compounded annually is__ *

Rs.280

Rs.820

Rs.2000

Rs.8000​

Answer 1

Answer:

Rs.820

Step-by-step explanation:

Given,

The compound interest on a sum of Rs.8000 for 2 years at 5% per annum compounded annually is__ *

sum=8000

time=2 years

rate R=5%

for 1st year:

5% of 8000=400

for 2nd year:

amount will be 8000+400

5%of 8400=420

finally interest is 400+420=820