Question

Given the principal = rs40000 Rs 8% p.a compounded annually . find
( a) interest if period is one year
(b) principal for second year
( c) interest for second year
( d) Amount if period is 2 year​

Answer 1

Answer:

I=prt/100=40000×8×1/100=3200 and principal for second year will be 3200; interest for second year=3200×8×2/100=512 and amount will be 3200+512=3712