Question

Practice Exercise 8.4 1. Find the compound interest on a sum of 9,000 for 2 years when the rate of interest for the first year is 8% per annum and for the second year is 10% per annum​

Answer 1

Answer:

Answer:FirstYear:-

P=9000

R=8%

T=1 year

SI=P×R×T/100 9000×8×1/100=720

SI of first year=720 A=P+SI=9000+720=9720

Second year:-P=9720R=10℅(Change in second year)

T=1 yearSI=P×R×T /100

SI:-9720×10×1/100

SI of second year =972

A=P+SI =9720+972=10,692

CI for two years=A-P

=10,692-9000=1,692

So,CI of 2 years=1,692

Step-by-step explanation:

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