Question

the compound interest ones 5000 at 8% PA for 2 years compounded anually is?
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Answer 1

p = ₹5000

r = 8%

n = 2 years

ci = ?

$ci \: = p( {(1 + \frac{r}{100}) }^{n} - 1) \\ = 5000( {(1 + \frac{8}{100}) }^{2} - 1) \\ = 5000( {(1 + \frac{2}{25}) }^{2} - 1) \\ = 5000( {( \frac{27}{25}) }^{2} - 1) \\ = 5000(\frac{729}{625} - 1) \\ = 5000(\frac{729 - 625}{625} ) \\ = 5000(\frac{104}{625} ) \\ = 5000 \times \frac{104}{625} \\ = 8 \times 104 \\ ci \: = 832$

ci = ₹832

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Answer 2

Answer:

the compound interest on 5000 at 8% PA for 2 years compounded annually is Rs 832