calculate the compound interest for second year on ₹8000 invested for 3 years and 10% per annum also find the sum due to at the end of 3rd year
Answers
Step-by-step explanation:
Given :
Principal (P) = ₹8000
Rate (R) = 10%
Time (T) = 3 years
Find :
The compound interest for second year and sum of money at the end of third year.
Solution :
Principal for first year ₹8000
Interest for first year = P × R × T /100
= ₹8000 × 10 × 1/100
= ₹800
Amount after one year = ₹8000 + ₹800
= ₹8800.
Principal for second year = ₹8800
Interest for second year = P × R × T /100
= ₹8800 × 10 × 1/100
= ₹880
Amount after two years = ₹8800 + ₹880
= ₹9680.
Principal for third year = ₹9680
Interest for third year = P × R × T/100
= ₹9680 × 10 × 1/100
= ₹968
Amount after three years = ₹9680 + ₹968
= ₹10648.
Hence :
The compound interest for second year is ₹880 and amount after end of third year is ₹10648.
Brainly Question Number :
https://brainly.in/question/37179860?utm_source=android&utm_medium=share&utm_campaign=question
Step-by-step explanation:
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