*What is the amount for Rs. 10000 by compound interest at 8% rate for 2 years?*

1️⃣ ₹ 5000
2️⃣ ₹ 11664
3️⃣ ₹

2 thoughts on “*What is the amount for Rs. 10000 by compound interest at 8% rate for 2 years?*<br /><br />1️⃣ ₹ 5000<br />2️⃣ ₹ 11664<br />3️⃣ ₹”

1. Answer:

   • Amount = Rs. 11664

   Step-by-step explanation:

   Given:

   • Principal amount (P) = Rs. 10000
   • Rate of interest (r) = 8%
   • Time (n) = 2 years

   To Find:

   • Amount (A)

   Formula used:

   [tex]\implies{\sf{Amount\;(A)=P\Bigg(1+\dfrac{r}{100}\Bigg)^{n}}}[/tex]

   Put the values in the formula,

   [tex]\implies{\sf{Amount\;(A)=P\Bigg(1+\dfrac{r}{100}\Bigg)^{n}}}[/tex]

   [tex]\implies{\sf{Amount\;(A)=10000\Bigg(1+\dfrac{8}{100}\Bigg)^{2}}}[/tex]

   [tex]\implies{\sf{Amount\;(A)=10000\Bigg(\dfrac{100+8}{100}\Bigg)^{2}}}[/tex]

   [tex]\implies{\sf{Amount\;(A)=10000\Bigg(\dfrac{108}{100}\Bigg)^{2}}}[/tex]

   [tex]\implies{\sf{Amount\;(A)=10000\Big(1.08 \Big)^{2}}}[/tex]

   [tex]\implies{\sf{Amount\;(A)=10000\times 1.08\times 1.08}}[/tex]

   [tex]\implies{\boxed{\sf{Amount\;(A)=Rs.\;11664}}}[/tex]

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2. Given :–

   • Principal = Rs.10000
   • Rate = 8% per annum compounded annually .
   • Time = 2 years.

   To Find :–

   • Amount = ?

   Solution :–

   we know that, when rate is compounded annually,

   • Amount = Principal * [1 + (Rate/100)]^ time

   putting values we get,

   → Amount = 10000 * [1 + (8/100)]²

   → Amount = 10000 * [1 + (2/25)]²

   → Amount = 10000 * (27/25)²

   → Amount = 10000 * (27 * 27 /25 * 25)

   → Amount = (10000 * 729) / 625

   → Amount = Rs.11664 (Option 2) (Ans.)

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