maria inveated rs 8000 in buisness. she would be paid intrest of 5percent per annum compounded annually. find.
Answers
Answer:
Ncert solutions
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Mathematics
Science
Chapters in NCERT Solutions - Mathematics , Class 8
Exercises in Comparing Quantities
Question 14
Q7) Maria invested Rs.8,000 in a business. She would be paid interest at 5% per annum compounded annually. Find:
(i) The amount credited against her name at the end of the second year.
(ii) The interest for the third year.
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(i) Here, Principal (P) = Rs. 8000, Rate of Interest (R) = 5%, Time (n) = 2 years.
Amount (A) = P\left(1+\frac{R}{100}\right)^nP(1+
100
R
)
n
= 8000\left(1+\frac{5}{100}\right)^28000(1+
100
5
)
2
= 8000\left(1+\frac{1}{20}\right)^28000(1+
20
1
)
2
= 8000\left(\frac{21}{20}\right)^28000(
20
21
)
2
= 8000\times\frac{21}{20}\times\frac{21}{20}8000×
20
21
×
20
21
= Rs. 8820
(ii) Here, Principal (P) = Rs. 8000, Rate of interest (R) = 5%, Time (n) = 3 years.
Amount (A) = P\left(1+\frac{R}{100}\right)^nP(1+
100
R
)
n
= 8000\left(1+\frac{5}{100}\right)^38000(1+
100
5
)
3
= 8000\left(1+\frac{1}{20}\right)^38000(1+
20
1
)
3
= 8000\left(\frac{21}{20}\right)^38000(
20
21
)
3
= 8000\times\frac{21}{20}\times\frac{21}{20}\times\frac{21}{20}8000×
20
21
×
20
21
×
20
21
= Rs. 9,261
Interest for 3rd year = A - P
= Rs. 9,261 – Rs. 8,820 = Rs. 441