Find the amount and interest on ₹ 1000 for 2 years at 8 % p.a compounded annually
₹ 1166.40 ,₹ 166.40
Principal = ₹ 1000, R = 8% and n = 2 years
Using P(1+R100)n = A we get
1000(1+8100)2 = A
1000×(108100)2 = 1166.40
Hence A = ₹ 1166.40
C.I = A - P
= ₹ 1166.40 - 1000
= ₹ 166.40