Find the amount and the compound interest on 8000 at 5 per annum for 2 years...

Question

Find the amount and the compound interest on 8000 at 5 per annum for 2 years

Accepted Answer

It is given that Principal 8000 Rate of interest 5 pa We know that Interest for the first year Prt100 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

ML Aggarwal Solutions Class 9 Mathematics Solutions for Compound Interest Exercise 2.1 in Chapter 2 - Compound Interest