Question

Mario took loan of ₹50000 from Bank at the rate of interest 8% per annum compounded manually.
Find intrest earned in first year. What will be the principle for second year?
Find compound interest for 3 years
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Answer 1

hope it's help

Step-by-step explanation:

Solution

Given that compound interest is to be calculated for 1 year:

P=40,000,r=8,n=1

A=P(1+100r)n=40000(1+1008)1=40000×100108=Rs. 43200

Compound Interest =A−P

=43200−40000=Rs. 3200