Question

Preeti invested ₹50000 at 8% per annum for three years and the interest is compounded annually .
(1)The interest for the third year

Answer 1

principal = 50000
rate = 8%
therefore interest for 1 year =
$50000 \times 8 \times 1 \div 100$
= 4000

therefore amount
$50000 + 4000$
54000

therefore interest for 2nd year =
$54000 \times 1 \times 8 \div 100$
4320
therefore amount =
$54000 + 4320$
58320

therefore interest for 3rd year =
$58320 \times 1 \times 8 \div 100$
4665.6

Ans = interest for 3rd year = Rs 4665.6

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Answer 2

Hey mate!!!

Here is your solution.....