A man has Rs. 8,000 in his bank account. He saved some money at the end of the year and deposited it in the bank. If the bank pays 9% per annum compound interest; and at the end of two years he had Rs. 12,774.80 in his bank account. Find what amount of money he has saved and deposited in his account at the end of the first year.
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Answered by
11
Answer:
The International Socialist Commission (ISC), also known as the Berne International, was formed in February 1919 at a meeting in Bern by parties that wanted to resurrect the Second International.
Answered by
1
Given :
p = ₹8000
SI = 8%
Time = 8 years.
Formula used :
SI = PRT/100
Calculation :
SI = (8000 × 8 × 8)/100
=> SI = 5120
Therefore, A = P + SI = ₹ ( 8000 + 5120) = 13120
Hope it helps you :)
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