Question

calculate the compound interest for the second year on rs 8000 invested for 2 yrs at 10%per annum​

Answer 1

Answer:

Answer in up there

Step-by-step explanation:

hope it helps

Answer 2

Answer:

880

Step-by-step explanation:

since we are calculating compound interest the amount yielded in the previous year becomes principal sum of present year when the rate is compounded annually

 I =  PRT /100  

where P = Principal sum

           I = Interest

           R = Rate of interest

            A= Amount    

    for 1st year  

                  P1 = 8000  

                  R1 = 10%

                  T1 = 1 year  

using formula ⇒   8000 × 10 × 1 /100  

                                = 8800  

 A1 = P1 + I1 =  8800  

For 2nd year

P2 = 8800

R2 = 10%

T2 = 1  year  

using formula ⇒ 8800 × 10 × 1/100

                         = 880