Question

Find the compound interest on rs 800 for 2 years at 8% per annum interest being payable annually​

Answer 1

Rs 968

Explanation:

Given :-

• P = Rs 800
• Rate = 8%
• Time = 2 yrs .

To Find :-

• Compound Interest .

Solution :-

We know CI as ,

> CI = P ( 1 + R/100)ⁿ

> CI = Rs 800 ( 1 + 10/100)²

> CI = Rs 800 × 11/10 × 11/10

> CI = Rs 968 .