What is the compound interest on a sum of ₹ 8000 for 2 years at 5% per annum compounded annually?

It is given that

Principal = ₹ 8000

Rate of interest = 5% p.a.

We know that

Interest for the first year = Prt/100

Substituting the values

= (8000 × 5 × 1)/ 100

= ₹ 400

So the amount for the first year or principal for the second year = 8000 + 400 = ₹ 8400

Here

Interest for the second year = (8400 × 5 × 1)/ 100

So we get

= ₹ 420

We know that

Amount after the second year = 8400 + 420

= ₹ 8820

Total compound interest = 8820 + 8000

= ₹ 820

Principal = Rs. 8000

Time = 2 years

Rate = 5% for 1st year and 10% for 2nd year

\(\begin{array}{l} {\rm{A}} = 8000\left( {1 + \frac{5}{{100}}} \right)\left( {1 + \frac{{10}}{{100}}} \right)\\ \Rightarrow 8000 \times \frac{{21}}{{20}} \times \frac{{11}}{{10}} = {\rm{Rs}}.{\rm{\;}}9240 \end{array}\)

C.I = A – P = 9240 – 8000 = Rs. 1240

∴ Rs. 1240 is the compound interest earned.

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Related Find CI on a sum of rupees 8000 for 2 years at 5% per annum compounded annually?

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We have P = Rs 8000,   R = 5% p.a.,      T = 2 years

Now,  compound interest = A - P

= Rs 8820 - Rs 8000

=  Rs 820 

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Related Find CI on a sum of rupees 8000 for 2 years at 5% per annum compounded annually?

P = 8000
R = 5%
T = 2 years

A = P (1+ R/100)raise to n

A = 8000 ( 1+ 5/100) raise to 2
= 8000 (105 / 100)(105/ 100)
= 882,0

C.I = A - P
= 882,0 - 8000
= 820

Therefore C.I = 820
HOPE IT HELPS YOU...

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820 is the correct answer

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Related Find CI on a sum of rupees 8000 for 2 years at 5% per annum compounded annually?

P×r×t upon 100 is the formulae of simple interest .solve it

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