Question

a sum of ₹800 is invested for 2 years at 10% per annum compound interest. calculate interest for the first year​

Answer 1

Answer:

for the 1st year,

principal=Rs.8000

time=1 yrs

rate of interest=10%  

simple interest=p*r*t/100

8000*10*1/100=rs.800  

for the 2nd year,

p=rs.(8000+800)=rs.8800

t=1 yr

r=10%  

S.I=8800*1*10/100=rs.880

amount=P +S.I=rs.(8800+880)=rs.9680

C.I=FINAL amount-ORIGINAL principal

=Rs.(9680-8000)=rs.1680(ANSWER)