Maria invested rs 8000 in a business she would be paid interest at 5% per annum compounded annually find first the amount credit against her name at the end of the second year second the interest of the third year
Answers
Step-by-step explanation:
Given, principal P=Rs.80,000
Rate of interest R=5%
For first year,
Interest for first year =
100
PRT
=Rs.
100
80000×5×1
=Rs.4000
Amount after first year =Rs.(80000+4000)=Rs.84000
For second year,
Interest for second year =
100
PRT
=Rs.
100
84000×5×1
=Rs.4200
Amount after second year =Rs.(84000+4200)=Rs.88200
Interest for third year =
100
PRT
=Rs.
100
88200×5×1
=Rs.4410
Hence, the amount standing to her credit at the end of second year is Rs.88200
And, the interest for the third year is Rs.4410
Answer:
Ans. (i) Here, Principal (P) = Rs. 8000, Rate of Interest (R) = 5%, Time = 2 years
Step-by-step explanation:
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