Question

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

Answer 1

Answer:

Answer: compound interest for the second year on 8000 Invested for 3 years at 10% per annum = Rs 880.

Step-by-step explanation: Principle = rs 8000. Interest Rate = 10% per annum. ...

Rs 880. Another way. Compund Interest = P (1 + r/100)ⁿ - P n = time in years r = rate of interest.

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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