Question

the compounded interest on RS 50000 at 8% per annum for 2 years , compounded annually is the answer

Answer 1

Answer:

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

Answer 2

Given: Rs 50000 is compounded annually at 8% per annum for 2 years.

To find: The compounded interest

Solution: Let the principal be p, rate be r, time be t and amount be a.

p = 50000

r = 8% p.a.

t=2 years

The formula for amount when principal is compounded annually is given by:

$a = p {(1 + \frac{r}{100} )}^{t}$

$= > a = 50000 {(1 + \frac{8}{100} )}^{2}$

$= > a = 50000 {( \frac{100 + 8}{100}) }^{2}$

$= > a = 50000 {( \frac{108}{100}) }^{2}$

$= > a = 50000 \times {(1.08)}^{2}$

=> a = 50000 × 1.1664

=> a = 58320

Therefore, the amount after 2 years is Rs 58320.

The compounded interest is given by the formula:

Compounded Interest

= Amount - Principal

= a - p

= 58320-50000

= 8320

Therefore, the compounded interest is Rs. 8320.