Question

(iv) The amount of money in the account every year, when 10000 is deposited at
compound interest at 8% per annum.​

Answer 1

Answer:

Given Amount =Rs 10,000

interest =8%

Total amount =P(1+r)

n

P is principle amount

r is the rate of interest

n is no of year

Compound interest increases depend on principle

Next year interest is interest on before year total

=10000(1+0.08)

n

At the end of the first year, =1000(1.08)=10800/−

Every year the amount increases at 1.08 times