Question

Calculate the compound interest for the second year on
8000 invested for 3years at 10% p.a.
Also find the sum due at the end of third year. ​

Answer 1

Answer:

compound intrest is rupees 10,648

Step-by-step explanation:

Hey!!

here is your answer mate...

the general formula for the calculation of compound intrest is

where,

p is the principle or the sum

r is the rate

n is the term

as per the question,

principle is 8000

rate is 10%

term is 3

if we substitute...

compound intrest is rupees 10,648

hope this helps!!!!

Answer 2

It is given that

Principal = ₹ 8000

Rate of interest = 10% p.a.

We know that

Interest for the first year = Prt/100

Substituting the values

= (8000 × 10 × 1)/ 100

= ₹ 800

So the amount after the first year or principal for the second year = 8000 + 800 = ₹ 8800

(i) Interest for the second year = (8800 × 10 × 1)/ 100

= ₹ 880

So the amount after second year or principal for the third year = 8800 + 880 = ₹ 9680

Interest for the third year = (9680 × 10 × 1)/ 100

= ₹ 968

(ii) Amount due at the end of the third year = 9680 + 968

= ₹ 10648