Discussion
What amount does Kiran get if he invests Rs.8000 at 10% p.a. compound interest for two years, compounding done annually?
Answer: B
\[ A = P\left(1 + \frac{R}{100}\right)^{n}, \qquad \text{CI} = A - P, \qquad \text{SI} = \frac{PRn}{100} \]
\[ A = 8000 \times (1.1)^{2} = 8000 \times 1.21 = \text{Rs. } 9680 \]
The interest is Rs. 1680, of which Rs. 1600 is simple interest and Rs. 80 is the second year's 10% on the first year's Rs. 800.
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