(D) The formula for the amount $A$ under compound interest is given by $A = P(1 + \frac{R}{100})^N$,where $P$ is the principal,$R$ is the rate of inte

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(D) The formula for the amount $A$ under compound interest is given by $A = P(1 + \frac{R}{100})^N$,where $P$ is the principal,$R$ is the rate of interest,and $N$ is the time period in years.Given: $P = ₹ 8000$,$R = 5 \%$,$N = 2$ years.Substituting the values into the formula:$A = 8000(1 + \frac{5}{100})^2$$A = 8000(1 + 0.05)^2$$A = 8000(1.05)^2$$A = 8000 \times 1.1025$$A = 8820$Therefore,Albert will get ₹ $8820$ on maturity.

Competitive Quantitative Aptitude Interest Compound Interest

Medium

Albert invested an amount of ₹ $8000$ in a fixed deposit scheme for $2$ years at a compound interest rate of $5 \%$ per annum. How much amount (in ₹) will Albert get on maturity of the fixed deposit?

A
$8600$
B
$8620$
C
$8800$
D
$8820$

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Interest

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Compound Interest

The difference between the compound interest and the simple interest on ₹ $8000$ for $3$ years at $5 \%$ per annum is (in ₹):

Medium

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$A$ sum of money placed at compound interest doubles itself in $5$ years. It will amount to eight times itself at the same rate of interest in (in $years$):

Medium

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$A$ certain sum of money invested at compound interest becomes $1.44$ times of itself in $2$ years. If twice this sum were lent at simple interest, in how many years would it double itself?

Medium

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If the difference between the simple interest and compound interest earned on an amount at $15$ $p.c.p.a.$ at the end of $3$ years is $Rs. 595.35$,what is the amount (in $Rs.$)?

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Find the present worth (in ₹) of ₹ $9261$ due $3$ years hence at $5 \%$ per annum compounded yearly.

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Albert invested an amount of ₹ $8000$ in a fixed deposit scheme for $2$ years at a compound interest rate of $5 \%$ per annum. How much amount (in ₹) will Albert get on maturity of the fixed deposit?

Similar Questions

The difference between the compound interest and the simple interest on ₹ $8000$ for $3$ years at $5 \%$ per annum is (in ₹):

$A$ sum of money placed at compound interest doubles itself in $5$ years. It will amount to eight times itself at the same rate of interest in (in $years$):

$A$ certain sum of money invested at compound interest becomes $1.44$ times of itself in $2$ years. If twice this sum were lent at simple interest, in how many years would it double itself?

If the difference between the simple interest and compound interest earned on an amount at $15$ $p.c.p.a.$ at the end of $3$ years is $Rs. 595.35$,what is the amount (in $Rs.$)?

Find the present worth (in ₹) of ₹ $9261$ due $3$ years hence at $5 \%$ per annum compounded yearly.

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