Sarthaks Test
0 votes
in Mathematics by (15.0k points)

Maria invested Rs 8,000 in a business. She would be paid interest at 5% per annum compounded annually. Find.

(i) The amount credited against her name at the end of the second year

(ii) The interest for the 3rd year.

1 Answer

0 votes
by (24.8k points)
selected by
Best answer

(i) P = Rs 8,000 R = 5% per annum

n = 2 years

(ii) The interest for the next one year, i.e. the third year, has to be calculated. By taking Rs 8,820 as principal, the S.I. for the next year will be calculated.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.