Question 79(i)

Given, the principal = Rs. 40000, rate of interest = 8% per annum compound annually. Find Interest if period is one year.

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Solution

Given, principal (P)= Rs. 40000
Rate of interest (R) = 8% per annum
Compound interest for one year,
We know that,
$A = P {(1 + \frac{R}{100})}^{n} = 40000 {(1 + \frac{8}{100})}^{1} [∵ n = 1 y r] = 40000 \times \frac{108}{100} ∴ A m o u n t, A = 400 \times 108 = R s . 43200$
$∴$ Compound interest, CI = A - P = Rs. 43200 - Rs. 40000 = Rs. 3200

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Question 79(i) Given, the principal = Rs. 40000, rate of interest = 8% per annum compound annually. Find Interest if period is one year.

Given, principal (P)= Rs. 40000 Rate of interest (R) = 8% per annum Compound interest for one year, We know that, A=P(1+R100)n=40000(1+8100)1 [∵ n=1yr]=40000×108100∴ Amount, A=400×108=Rs.43200 ∴ Compound interest, CI = A - P = Rs. 43200 - Rs. 40000 = Rs. 3200

Question 79(i)

Given, the principal = Rs. 40000, rate of interest = 8% per annum compound annually. Find Interest if period is one year.