A man invests 212000 for 3 years at 10% per annum compound interest in a bank. Find: a) The compound interest for second year. b) Principal for the third year.
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0
Answer:
880
Compound interest for the second year will be the simple interest gained in the second year, with the amount after first year being the principal for the second year.
For the first year
P=Rs8,000
N=1year
R=10 %
We have S.I.=
100
PNR
=
100
8,000×1×10
=Rs800
And Amount at the end of first year P+S.I.=Rs8,000+Rs800=Rs8,800
Now, for the second year
P=Rs8,800
N=1year
R=10 %
We have S.I.=
100
PNR
=
100
8,800×1×10
=Rs880
Thus, Compound interest for the second year =Rs880
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0
Answer:
Yo
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