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
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Answered by
1
Answer:
Rs 820
Step-by-step explanation:
Principal is Rs 8000
Rate of interest is 5% per annum
Time 2 years
Compound Interest = Amount - Principal
Amount = P(1 + r/100)^Years
8000 ( 1+5/100)^2
Solving the bracket
8000 ( 105/100)^2
Solving the power
8000 × 11025/10000
Multiplying and cancelling Zero's
Rs 8820
Compound Interest = Amount - Principal
So,
8820 - 8000
= Rs 820
Hope this helps
Answered by
2
Answer:
Ans. (i) Here, Principal (P) = Rs. 8000, Rate of Interest (R) = 5%, Time = 2 years
Amount (A) = 8000*[1+5/100]^2
= Rs. 8,820
(ii) Here, Principal (P) = Rs. 8000, Rate of Interest (R) = 5%, Time = 3 years
Amount (A) = 8820*[1+5/100]
= Rs. 9,261
Interest for 3rd year = A – P
= Rs. 9,261 – Rs. 8,820 = Rs. 441
Step-by-step explanation:
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