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

Formula for calculating amount,

A = $P\Big(1 + \dfrac{r}{100}\Big)^n$

Using formula we get,

$A = ₹8000\Big(1 + \dfrac{10}{100}\Big)^4 \\[1em] = ₹8000 \times \Big(\dfrac{110}{100}\Big)^4 \\[1em] = ₹8000 \times \Big(\dfrac{11}{10}\Big)^4 \\[1em] = ₹8000 \times \dfrac{11}{10} \times \dfrac{11}{10} \times \dfrac{11}{10} \times \dfrac{11}{10} \\[1em] = ₹\dfrac{117128000}{10000} \\[1em] = ₹11712.80$

Compound interest = Final amount - Principal = ₹11712.80 - ₹8000 = ₹3712.80

Hence, the amount and the compound interest on ₹8000 for 4 years at 10% per annum is ₹11712.80 and ₹3712.80 respectively.