#### Find the amount and the compound interest on ₹ 8000 for 4 years at 10% per annum interest reckoned yearly.

**Solution:**

It is given that

Principal (P) = ₹ 8000

Rate of interest (r) = 10% p.a.

Period (n) = 4 years

We know that

Amount = P (1 + r/100)^{n}

Substituting the values

= 8000 (1 + 10/100)^{4}

By further calculation

= 8000 × 11/10 × 11/10 × 11/10 × 11/10

= ₹ 11712.80

Here

CI = A – P

Substituting the values

= 11712.80 – 8000

= ₹ 3712.80

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