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Maria invested ₹ 8,000 in a business. She would be paid interest at 5% per annum compounded annually. Find. The amount credited against her name at the end of the second year

Maria invested ₹ 8,000 in a business. She would be paid interest at 5% per annum compounded annually. Find.
 The amount credited against her name at the end of the second year 

Grade:12

1 Answers

Anand Kumar Pandey
askIITians Faculty 5608 Points
2 months ago
Dear Student

P =₹8,000
R = 5% per annum
n = 2 years
Amount, A =P (1 +R/100 )^n
=₹ [8000(1+5/100 )^2]
=₹ [8000 × (105/100)^2]
=₹8820

​Thanks

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