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What is the compound interest if …

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What is the compound interest if the rate of interest is 8% , principal is 20000 and time period is 2 years

Posted by Kunjan Parmar 7 years, 2 months ago

CBSE > Class 08 > Mathematics

3 answers

Vijaya Viju 7 years, 2 months ago

The formula is CI= p(1+ Rate )time ( 100 ) 20,000 (1+8. )2 ( 100 ) 20,000 x 27 x27 25 25 =23328 CI=23328-20000 =3328

0Thank You

Yogita Ingle 7 years, 2 months ago

Giver P = Rs 20,000

R = 8% p.a

n = 2 years

Now, A = P (1 + R/100)ⁿ
A = 20000 ( 1 + 8/100)²

A = 20000( 108/100)²
= Rs 23,328

And, CI = A – P = Rs 23,328 – Rs 20,000 = Rs 3328

1Thank You

Vijaya Viju 7 years, 2 months ago

Compound interest will be 3328

2Thank You

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CBSE > Class 08 > Mathematics