Question

Calculate the compound interest for the second year on 8,000/- invested for 3 years at 10 %per annum.​

Answer 1

Answer:

Principle = rs 8000

Interest Rate = 10% per annum

Interest for 1st Year = 8000 X 10 X 1 /100  = 800 Rs

As it is compound interest so,

Principle after 1 year = 8000 + 800 = Rs 8800

Interest in 2nd Year = 8800 X 10 X 1 /100 = 880 Rs

=Rs 880

HOPE THIS HELPS U......

Answer 2

Answer:

10648 rupees

Step-by-step explanation:

the formula of compound interest is principal * (1+ rate)^ time period

so by putting given values

8000*(1+10/100)^3

8000*(110/100)^3

8000*110/100*110/100*110/100

8*11*11*11

=₹10648