Browse by Stream
QnA
Home

Get Answers to all your Questions

header-bg qa
  • Home
  • Management
  • Find the compound interest on Rs. 8000 at 4% per annum for 2 years compounded annually  Option: 1  R 652.80<div cla

Find the compound interest on Rs. 8000 at 4% per annum for 2 years compounded annually

 

Option: 1

 R 652.80


Option: 2

R 452.80


Option: 3

R 652


Option: 4

R 552.80


Answers (1)

best_answer

Here, P = R 8000, R = 4%, Time = 2 years
Now, according to the formula,
  Amount =P(1+R100)n=8000(1+4100)2=8000×2625×2625=R8652.80
∴ CI = R (8652.80 – 8000) = R 652.80

Posted by

Sanket Gandhi

View full answer

Similar Questions

Latest Question