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Compound Interest — MATHS STD 8 — Question

Gujarat BoardEnglish MediumSTD 8MATHSCompound Interest3 Marks
Question
By using the formula, find the amount and compound interest on. $Rs. 6000$ for $2$ years at $9\%$ per annum compounded annually.
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Answer

Principal $(P) = Rs. 6000$
 Rate $(R) = 9\%$ p.a
Period $(n) = 2$ years
Amount $(A)n=\text{P}\Big(1+\frac{\text{R}}{100}\Big)^{\text{n}}$
$=\text{Rs. }6000\Big(1+\frac{9}{100}\Big)^2$
$=\text{Rs. }6000\times\frac{109}{100}\times\frac{109}{100}$
$=\text{Rs. }\frac{71286}{10}=\text{ Rs. }7128.60$
$C.I = A - P = Rs. 7128.60 - Rs. 6000 = Rs. 1128.60$

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