Find compound interest on Rs. 8000 at 15% per annum for 2 years, compounded annually.

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Solution

Amount $= P {(1 + \frac{r}{100})}^{t}$

Amount $= 8000 {(1 + \frac{15}{100})}^{2}$

$= 8000 {(\frac{115}{100})}^{2}$

=Rs. 10580

C.I= Amount-Principal

=10580 - 8000

=Rs. 2580

Suggest Corrections

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