Question

Rekha borrowed * 40,000 for 3 years at 10%
per annum compound interest. Calculate the
interest paid by her for the second year. ​

Answer 1

Answer: 53240

Step-by-step explanation:

P=40,000  T=3   R=10%

40,000*(1+10/100)^3

40,000*(11/10)^3

40*1331 = 53240

ANS= 53,240