Find the amount and the compound interest oncompounded annually.8000 a – InterviewSolution

1.

Find the amount and the compound interest oncompounded annually.8000 at 5% per annum

Answer»

Principal = 8000rate = 5%time = 2 years ( 2 terms)

Amount = P(1+ R/100)^n= 8000(1+5/100)²= 8000* (1+1/20)²= 8000 *( 21/20)²= 8000 * 441/400= 20 * 441 = 8820 /-

:. CI = Amount - Principal= 8820 - 8000=. 820.

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