Question

Calculate the compound interest for the second year on Rs.8000 invested for 3 years at 10% p.a.

Answer 1

Answer:

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Answer 2

Step-by-step explanation:

SOLUTION

Given :

Principal (P) = ₹8000

Rate (r) = 10%

Period (n) = 3 years.

Find :

The amount and compound interest.

SO :

$a = p(1 + \frac{r}{100} )^{n}$

$= > 8000(1 + \frac{10}{100} ) ^{3}$

$= > 8000( \frac{110}{100} ) ^{3}$

$= > 8000 \times \frac{110}{100} \times \frac{110}{100} \times \frac{110}{100}$

$= > 8 \times 11 \times 11 \times 11$

$= > 88 \times 121$

$= > 10648$

Amount = ₹10648.

C.I. = A - P

$= > 10648 - 8000$

$= > 2648$

Compound interest = ₹2648.

Hence :

The amount is ₹10648 and compound interest is ₹2648.