1. What will be the compound interest on a sum of Rs. 9000 at compound interest compounded annually at 8% per annum in two years ?
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- By: anil on 05 May 2019 01.43 amPrincipal amount, $$P = Rs. 9,000$$ Time = 2 years and rate of interest = 8% under compound interest => $$C.I. = P [(1 + frac{R}{100})^T - 1]$$ = $$9000 [(1 + frac{8}{100})^2 - 1]$$ = $$9000 [(frac{27}{25})^2 - 1] = 9000 (frac{729}{625} - 1)$$ = $$9000 imes frac{104}{625}$$ = $$14.4 imes 104 = Rs. 1,497.6$$
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