Question

The amount of money in the account every year,when Rs.10000 is deposited at compound interest at 8% per annum

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Answer 1

Answer:

Step-by-step explanation:

Given Amount =Rs 10,000

interest =8%

Total amount =P(1+r)  

n

 

P is principle amount

r is the rate of interest

n is no of year

Compound interest increases depend on principle  

Next year interest is interest on before year total

=10000(1+0.08)  

n

 

At the end of the first year, =1000(1.08)=10800/−

Every year the amount increases at 1.08 times

Answer 2

Answer:

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