Calculate the compound intrest for second year on 8000 invested for 3 – InterviewSolution

1.	Calculate the compound intrest for second year on 8000 invested for 3 year at 10% p. a.
Answer» al amount = RS 8000Amount invested for 3 years Rate at which amount was invested is 10 %Invested at compound interest [compounded annually ] Compound interest for 2nd year . Using the above mentioned formula :- We have to FIND interest only so Interest for 2nd year = Interest for 2 years - Interest for 1 year = 1680 - 800 = 880 rupees

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