Question

calculate the compound interest for the second year on rupees 8000/- invested for 3 year at 10% per annum​

Answer 1

Answer:

hence the compound interest for 2nd year is ₹880

Step-by-step explanation:

p=8000₹

r=10%

t=1yr

interest for the 1st year = 8000×10×1/100

= ₹800

therefore, amount=8000+800=₹8800

now,

p=₹8800

r=10%

t=1yr

interest for the 2nd year = 8800×10×1/100

= ₹880.