what will be the amount and compound interest,if 5000 is invested at 8% per annum for 2years
Answers
Answered by
10
Answer:
Step-by-step explanation:
Principle=5000
Interest rate = 8%p.a.
Time=2years
C.I.=P*T*R/100
=5000*8*2/100
=800
Amount=principle+c.i.
=5000+800
=5800
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Answered by
3
Step-by-step explanation:
after two year compound interest is
p(1+r/100)^n
=5000(1+8/100)^2
=5000*108/100*108/100
=5832
compound interest 5832-5000=832rs
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