Question

Narendra invested ₹ 8,000 in a business. He would be paid interest at 5% per

annum compounded

annually. find the amount credited against his name at the end of the second year.​

Answer 1

${\huge{\pink{\underbrace{\overbrace{\mathbb{\blue{ANSWER:-}}}}}}}$

$\huge{ A= P(1+\frac{r}{100})^t}$

P=8,000

r=5%

t=2years

$\huge{A= 8000(1+\frac{5}{100})^2}$

$\huge{A= 8000(1+\frac{1}{20})^2}$

$\huge{ A= 8000(\frac{21}{20})^2}$

$\huge{A= 8000\times\frac{21}{20}\times\frac{21}{20} }$

$\huge{A= 20 \times 21 \times 21}$

$\huge\boxed{\orange{A= ₹ 8820}}$