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The compound ...

Question

The compound interest on $R s 5000$ at $8 %$ per annum for $2$ years, compounded annually is

A

R s 800

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B

R s 825

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C

R s 832

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D

R s 850

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Solution

The correct option is A $R s 832$
$P = R s .5000, r = 8 %, t = 2$
$C I = P [1 - (1 + \frac{r}{100})^{t}]$
$⟹ C I = 5000 [1 - (1 + \frac{8}{100})^{2}]$
$⟹ C I = R s .832$

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