A sum of Rs. 8000 is invested for 2 years at 10% per annum compound interest. Calculate: 1. Interest for the first year. 2. Principal for the second year. 3. interest for the second year. 4. Final amount at the end of the second year. 5. Compound interest earned in 2 years
Answers
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Step-by-step explanation:
(i) Here Principal (P) = Rs. 8,000
Rate of interest = 10%
Interest for the first year = (8,000 × 10 × 1)/100
= Rs. 800
(ii) ∴ Amount = Rs. 8,000 + Rs. 800 = Rs. 8,800
Thus principal for the second year = Rs. 8,800
(iii) Interest for the second year
= (8,800 × 10 × 1)/100 = Rs. 880
(iv) Amount at the end of the second year = Rs.
8,800 + Rs. 880 = Rs. 9,680
(v) Hence compound interest earned in 2 years
= Rs. 9,680 – Rs. 8,000 = Rs. 1680
Hope it helps you ‼️☺️
Answer:
1st year :
principal = 8,000
time = 1 yr
rate of interest = 10%
Simple interest = p×r×t/100
= 8,000×1×10/100
= 8,0000/100
= 800 rupees
2nd year :
principal = 8000 + 800 = 8800
time = 1yr
rate of interest = 10%
S.I. = 8800×1×10/100
= 880 rupees
amount = P + S.I. = 8800+880
= 9680 rupees
C.I. = 9680 - 8000
= 1680 rupees