Question

what sum of money will amount to rs 7290 in 2year at the rate of interest 8% p.a. compounded annually

Answer 1

CI= 1213.06
amount= 7290+1213.06= 8503.06

Answer 2

P= 7290
R= 8percent
T = 1 years
SI = P*R*T / 100
7290 * 8 *1 /100= 583.2
Amount = 7290+ 583.2= 7873.2
there fore 7873.2 is the next principal for 2nd year
so, p =7873.2
R = 8percent
T= 1 year
SI = P* R * T / 100
7873.2*8*1/100= 629.856
compound interest = 629.856
I Hope that it is right and helful for you