Question

Neha invests ₹ 8000 in the post office at 12% per annum compound interest for
2 years. Find :
(i) The interest for the first year.
(ii) The amount standing to her credit at the end of the second year.

Answer 1

multiply and divide by the formula

Answer 2

Step-by-step explanation:

$Answer:-$

$(i) \: \: Here,$

$Given:-$

• $Principal \: \: (P) \: = Rs. \: \: 8000$
• $Rate \: \: of \: \: Interest \: \: (R) = \: 5\%,$
• $Time \: (n) \: = \: 2 \: years.$

$To \: \: find: -$

• The interest for the first year.

$Solution: -$

$Amount \: (A) \: =  \: P\left (1+\frac{R}{100}\right)^n$

$= 8000\left(1+\frac{5}{100}\right)^2$

$= 8000\left(1+\frac{1}{20}\right)^2$

$= 8000\left(\frac{21}{20}\right)^2$

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

$= Rs. 8820$

$(ii) \: \: Here,$

$Given:-$

• Principal (P) = Rs. 8000,
• Rate of interest (R) = 5%,
• Time (n) = 3 years.

$To \: \: find:-$

• The amount standing to her credit at the end of the second year.

$Solution:-$

Amount (A) = P (1 + R/100)n

= 8000(1+ 5 /100)³

$= 8000\left(1+\frac{1}{20}\right)^3$

$= 8000\left(\frac{21}{20}\right)^3$

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

$= Rs. \: 9,261$

$Interest \: \: for \: \: 3rd \: \: year \: = \: A \: - \: P$

$= Rs. \: \: 9,261 \: – \: Rs. \: \: 8,820$

$= Rs. \: \: 441$