Question

A sum of Rs.8000 is invested for 3 years at 10% per annum compound interest. Calculate principal for the second year

Answer 1

For the first year- 
Principal. = ₹8000
Rate. = 10% p.a.
Interest. = PRT/100
= ₹8000*10/100
= ₹800
amount = ₹8800

The amount for the first year is the principal for the second year.

Ans.The principal for the second year is ₹ 8800.
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