Question

5. Calculate the compound interest for the second
year on 8,000/- invested for 3 years at 10%
per annum​

Answer 1

Answer:

FOLLOW ME FOR CLEARING YOUR DOUBT

Answer 2

Answer:

COMPOUND INTREST

Step-by-step explanation:

PRINCIPAL=8000/-

RATE OF INTREST=10%

TIME=3 YEARS.

FOR Compound Intrest we should calculate year by year Time=1 year and Rate percent is same for all years.

CI=PRINCIPAL*RATE*TIME/100

1ST YEAR.= P=8000/-

T=1YEAR

RATE=10%

8000*1*10/100

=800

AMOUNT=8000+800

=8800/-

2ND YEAR= P=8800/-

R=10%

T=1Year

8800*10*1/100

=880/-

AMOUNT=8800+880

=9680/-

3RD YEAR= P=9680

R=10%

T=1YEAR

9680*10*1/100

=968/-

AMOUNT=9680+968

=10648/-

COMPOUND INTREST FOR SECOND YEAR:

=800+880

=1680