Question

The compound interest for the two years on Rs. 8,000/- invested for 3 years at 10% per annum is :

Answer 1

We know, for compound interest $A=P{(1+\frac{R}{100})}^T$

$=8000{(1+\frac{10}{100})}^2$

$=8000\times \frac{110}{100}\times \frac{110}{100}=Rs9680$

$C.I=A-P=9680-8000=Rs1680$