Calculate the compound interest for the second year in Rs. 8000/-invested for  3years at 10%per annum

 

Asked by Santoshsinghraja | 14th Apr, 2019, 10:41: PM

Expert Answer:

begin mathsize 16px style We space know space that comma
straight A space equals space straight P space open parentheses 1 space space plus space straight r over 100 close parentheses to the power of straight n space
Compount space interest space for space second space year space equals space Amount space after space 2 space years space minus space straight P space minus space Interest space of space first space year
Compound space interest space for space second space year space equals space 8000 space open parentheses 1 space plus space 10 over 100 close parentheses squared space minus space 8000 space minus space fraction numerator 8000 space cross times 10 space cross times space 1 over denominator 1 end fraction
space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals space 8000 space open parentheses fraction numerator 11 over denominator space 10 end fraction close parentheses to the power of 2 space end exponent space minus space 8000 space minus 800
space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals space 880
end style

Answered by Yasmeen Khan | 15th Apr, 2019, 11:56: AM