Math, asked by micahjosephine3528, 5 months ago

Calculate the Compound Interest for second year on Rs.5000 invested for 3 years at 10% p.a.

Answers

Answered by destinybell
3

Answer:

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.=100PNR​=1008,000×1×10​=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.=100PNR​=1008,800×1×10​=Rs880

Thus, Compound interest for the second year =Rs880

Step-by-step explanation:

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