Question

Given the principal = $40000, rate of interest = 8% p.a, compounded anually. Find
(a) interest if period is 1 year (b) principal for 2nd year (c) interest for 2nd year (d) amount if period is 2nd year.

Answer 1

Answer:

Step-by-step explanation:

a) principal=40000

Rate of interest=8 percent

Time=1Years

Simple interest=40000/100×8×1=Rs 3200

Amount=40000+3200=43200

b) principal=40000

Rate of interest=8 percent

Time=2 Years

Simple interest=40000/100×8×2=6400

Amount=40000+6400=Rs 46400