Nisha invested Rs 2400 in a business. She would be paid interest at 20% per annum compounded annually. Find the amount credited against her name at the end of the third year.
Answers
Answer: Here P=Rs.8000,R=5%per annum and n=2 years.
∴ Amount after 2 years =P(1+
100
R
)
n
Amount after 2 years =Rs.[8000×(1+
100
5
)
2
]
Amount after 2 years =Rs.(8000×
100
105
×
100
105
)=Rs.8820
Now, the principal for the third year will be the amount at the end of the second year.
Interest=
100
P×R×T
Interest=
100
8820×5×1
= Rs441
Answer:
Maria invested Rs 8,000 in a business. She would be paid interest at
5% per annum compounded annually. Find (i) The amount credited against her name at the end of the second
year.
Given,
Principal (P) = Rs 8000
Rate (R) = 5% per annum
Time = 2 Years
We need to find the amount after 2 years
So, we use the formula
A=P(1 + 5)² r 100
Step-by-step explanation:
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