Maria invested ₹ 8,000 in a business. She would be paid interest at 5% per annum compounded annually. Find. The interest for the 3rd year.
Pawan Prajapati , 4 Years ago
Grade 12
1 Answers
Harshit Singh
Last Activity: 4 Years ago
Dear Student
P =₹8,000 R = 5% per annum n = 2 years The interest for the next one year, i.e. the third year, has to be calculated. By taking₹8,820 as principal, the S.I. for the next year will be calculated. S.I. = P x R x T 100 =8820×5×1 100 =₹441
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