Browse by Stream
QnA
Home
QnA
Go To Your Study Dashboard

Get Answers to all your Questions

header-bg qa
  • Home
  • NCERT
  • Maria invested Rs 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.

 7  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.
 

Answers (1)

best_answer

Given,

Principal amount, P = Rs 8,000

Compound rate of interest, R = 5% p.a.

Time period, n = 2 years

We know, Amount when interest is compounded annually, A =

                        A =P(1+\frac{R}{100})^n

                       A =8000(1+\frac{5}{100})^2= Rs.\: 8,820                   

Therefore, the amount credited against her name at the end of the second year is Rs 8,820
 

Posted by

HARSH KANKARIA

View full answer

Similar Questions

Trending Articles/News

anam-khan

JNVST Class 6 admit card 2025 out at navodaya.gov.in; exam in 2 phases
anam-khan

NVS LEST 2025 application correction deadline today at navodaya.gov.in; editable fields
anam-khan

NVS 2025 application correction window for Class 9, 11 admissions opens at navodaya.gov.in

Latest Question