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CBSE Class 8 Answered

Find the compound interest at the rate of 5% per annum for 2 years on that principal which two years at the same rate gives Rs.800 as simple interest.
Asked by tannushree8606 | 08 Oct, 2019, 10:05: PM
answered-by-expert Expert Answer
According to the question,
r = 5% p.a., n = 2 years, SI = Rs. 800
SI = Pnr/100
800 = P × 2 × 5/100
P = Rs. 8000
Amount = P(1 + r)n 
A = 8000(1.05)2 = Rs. 8820
Interest = A - P = 8820 - 8000 = Rs. 820
Answered by Sneha shidid | 09 Oct, 2019, 09:30: AM

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