Question

Maria invested ₹ 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.

Answer 1

Given: P = ₹ 8,000, R = 5% p.a.

and n = 2 years

Hence, interest for the third year = ₹ 441

Answer 2

Given: P = ₹ 10,000, n = 112 years

R = 10% per annum

Since the interest is compounded half yearly