Question

calculate the compound interest for the second year on 8000 invested for 3 years at 10% per annum please explain​

Answer 1

The compound interest is:

$A = P (1 + \frac{r}{n})^{nt}$

Substitute corresponding numbers accordingly, though you must understand what each letter represents prior.

$A = 8000 (1 + \frac{.1}{24})^2$

Calculate accordingly, though this may be stated too much: you will have to pay attention to the order of operations. For the sake of simplicity, I will go ahead and list the answer.

$A = 8000 (1 + \frac{.1}{24})^2 = 8066.81$

p = principle or total money

r = rate

n = time in months

nt = time in years

Hence, the answer is

8066.81

Answer

8066.81

Answer 2

Answer:

compund interest for the second year on 8000 invested for 3years at 10% per annum = RS. 880

Step-by-step explanation:

principle=rs 8000

interest rate= 10 % per annum

interest for 1st year=8000* 10 *1/100= 800rs

as it is compound interest so

principle after 1year=8000+800=8800

interest in 2nd year=8800*10*1/100=880rs

RS 880

hope this helps

please please please please please please mark as brainlest answer