Question

Maria invested Rs.8000 in a business.she would be paid interest at 5% per annum compounded annually find. the amount credited against her at end of second year

Answer 1

5 percent of 8000 =400
First year total = 8400
5 percent of 8400 = 450
Second year total = 8450.

Answer 2

80000 (1 plus r/100)*280000 (1 plus 5/100)*2.8000 (105/100)*2 .88200 for second year . amount after three years is same formula the principal was 88200 (105/100) here n be consider as 1. 92610 . intrest a-p 92610-88200 is equal to 4410