Question

A man borrwed Rs 20,000 for 2 years at 8% per year compuned interest, what is the intrest of the second year?​

Answer 1

Answer:

16 per is the second year compuned interest

Answer 2

Answer:

Interest for 2nd year = 1728

[MARK THE ANSWER AS BRAINLIEST]

Step-by-step explanation:

P = 20,000

R = 8%

Interest for 1st year = $\frac{P*T*R}{100} = \frac{20,000*8*1}{100} = 1600$

Principal for 2nd year = 20,000 + 1600 =  21,600

Interest for 2nd year = $\frac{P*T*R}{100} = \frac{21,600*8*1}{100} = 1728$