The compound interest on a sum of Rs P for T years at R% per annum compounded annually is given by the formula P(1 + R/100). Is the following statement true or false

Solution:

The compound interest on a sum of Rs. P for T years at R% per annum compounded annually is given by the formula:

\(A = P(1 +\frac{R}{100})^{T}\)

Hence the given statement is False

Try this: The compound interest on a sum of Rs. 1000 for 2years at10% per annum compounded annually is given by the formula:

\(A = 1000(1 +\frac{10}{100})^{2}\)

\(A = 1000(1 +1.1)^{2}\)

= 1000(1.21)

= Rs. 1210

Compound Interest = 1210 - 1000 = 210

☛ Also Check: NCERT Solutions for Class 8 Maths Chapter 8

NCERT Exemplar Class 8 Maths Chapter 9 Problem 58

The compound interest on a sum of Rs P for T years at R% per annum compounded annually is given by the formula P(1 + R/100). Is the following statement true or false

Summary:

The statement: The compound interest on a sum of Rs P for T years at R% per annum compounded annually is given by the formula P(1 + R/100) is False

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