8. Calculate the compound interest for the second year on Rs 8000 in – InterviewSolution

1.	8. Calculate the compound interest for the second year on Rs 8000 invested for 3 years at 10% p.a.
Answer» A=p(1+r/100)^t=8000(1+10/100)^3=8000(1+1/11)^3=8000(11+1/11)^3=8000(12/11)^3800012/1112/1112/11=80001728/1331=138241000/1331=13824/1331100010.38617*1000=1038.617 RUPEES CI=A-P=8000-1039=6961 rupees

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