Calculate the compound interest for the second year on 8000 invested for
3 years at 10% p.a.
Answers
Answered by
1
Step-by-step explanation:
Formula of compound interest is
p = [1 + R/ 100] ^T
Here P is the principle amount:
T is the duration of investment in years;
R is the rate of interest:
Putting the value of P, R and T in above formula:
Compound Interest = 800 [1 + 10/100]^3;
= 800 [1 + 0.1 ]^3;
= 800 [1.1]^3;
= 800 * 1.331;
= 1064.8
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Answered by
0
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.
Step-by-step explanation:
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