Question

*What is the amount for Rs. 10000 by compound interest at 8% rate for 2 years?*

1️⃣ ₹ 5000
2️⃣ ₹ 11664
3️⃣ ₹ 15664
4️⃣ ₹ 10664​

Answer 1

Step-by-step explanation:

so here is your answer .. I hope it will help you

Answer 2

Given :-

• Principal = Rs.10000
• Rate = 8% per annum compounded annually .
• Time = 2 years.

To Find :-

• Amount = ?

Solution :-

we know that, when rate is compounded annually,

• Amount = Principal * [1 + (Rate/100)]^ time

putting values we get,

→ Amount = 10000 * [1 + (8/100)]²

→ Amount = 10000 * [1 + (2/25)]²

→ Amount = 10000 * (27/25)²

→ Amount = 10000 * (27 * 27 /25 * 25)

→ Amount = (10000 * 729) / 625

→ Amount = Rs.11664 (Ans.2)

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