calculate the compound interest for the second year on rupees 8000 invested for 2 years at 8% per annum
Answers
Step-by-step explanation:
Answer
(i) Here Principal (P) = Rs. 8,000. ...
Interest for the first year = (8,000 × 10 × 1)/100.
= Rs. 800.
(ii) ∴ Amount = Rs. 8,000 + Rs. ...
Thus principal for the second year = Rs. 8,800.
(iii) Interest for the second year.
= (8,800 × 10 × 1)/100 = Rs. 880.
ANSWER :
INTEREST FOR THE FIRST YEAR = P*R*1/100
= 8000*8*1/100
= 640
AMOUNT = 2nd YEAR PRINCIPAL = 8000+640
= 8640
INTEREST FOR THE SECOND YEAR:
=8640*8*1/100 = 691.2
AMOUNT = 8640+691.2( note that this is the total amount) = 9331.2
TOTAL CI = 640+691.2 = 1331.2
TOTAL AMOUNT = 9331.2
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