Given the principle is equal to rs.40000 rate of interest= 8% per annum compounded annually (a) find interest hf period is 1 year. (b) find principle for 2nd year. (c) find interest for 2nd year. (d) find amount if period is 2 year
Answers
Answer:
a) Rs 3200 b) Rs 43200 c) Rs 3456 d) Rs 46656
Step-by-step explanation:
a) We shall use the formula, for compound interest, A= P(1 + R/100)ⁿ
Given, Principal P = Rs 40000
Rate R = 8%
Amount = 40000(1+8/100)¹
= 40000 x 108/100
= Rs 43200
Compound interest = Amount - Principal
= 43200- 40000 = Rs 3200
b) Amount for 1st year becomes principal for second year
Principal for second year = Rs 43200
c) Amount for 2nd year = P(1 + R/100)ⁿ
= 43200(1 + 8/100)¹
= 43200 x 108/100
= Rs 46656
Compound interest = Amount - Principal
= 46656 - 43200 = Rs 3456
d) For period of two years, we have already calculated amount to be Rs 46656
I hope it helped
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a) Rs 3200 b) Rs 43200 c) Rs 3456 d) Rs 46656
Step-by-step explanation:
a) We shall use the formula, for compound interest, A= P(1 + R/100)ⁿ
Given, Principal P = Rs 40000
Rate R = 8%
Amount = 40000(1+8/100)¹
= 40000 x 108/100
= Rs 43200
Compound interest = Amount - Principal
= 43200- 40000 = Rs 3200
b) Amount for 1st year becomes principal for second year
Principal for second year = Rs 43200
c) Amount for 2nd year = P(1 + R/100)ⁿ
= 43200(1 + 8/100)¹
= 43200 x 108/100
= Rs 46656
Compound interest = Amount - Principal
= 46656 - 43200 = Rs 3456
d) For period of two years, we have already calculated amount to be Rs 46656
I hope it helped
Pls mark as the brainliest answer
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