1. Calculate the amount and the compound interest on ? 10000 for 2 years at 8% p.a., compounded
annually.​

1 thought on “1. Calculate the amount and the compound interest on ? 10000 for 2 years at 8% p.a., compounded<br />annually.​”

1. Answer:

   To Find:

   Compound interest (C.I)

   Given:

   Principle amount (p) = 10,000.

   Interest rate (r) = 8% per annum = 8/100 = 0.08.

   Compounded (n) = 1 year.

   Time in years (t) = 2.

   Formula:

   A = P(1+r/n)^nt.

   A = 10,000(1+0.08/1)^2

   A = 10,000(1+0.08)^2

   A = 10,000(1.08)^2

   A = 10,000(1.1664)

   A = 11664.

   Now, we need to find the C.I

   C.I = A – P

   C.I = 11664 – 10,000

   C.I = 1664.

   Step-by-step explanation:

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