What is the compound interest on Rs. 8000 at 5% per annum for 2 years?

Topic: Interest
Subtopic: Compound Interest

ARs. 800

BRs. 820

CRs. 840

DRs. 850

Explanation

Amount = 8000 * (1 + 5/100)^2 = 8000 * (1.05)^2 = 8000 * 1.1025 = Rs. 8820. CI = 8820 – 8000 = Rs. 820.

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