Dipti puts $26000 in a fixed deposit at 8% p.a. If she gets interest on the previous year’s interest also, find the amount she

November 2023 2 1 Report

Dipti puts $26000 in a fixed deposit at 8% p.a. If she gets interest on the previous year’s interest also, find the amount she can get after 2 years.

[tex]SI = \frac{P \times R \times T}{100} \\ \\SI = \frac{26,000 \times 8 \times 2}{100} \\ \\ SI = \frac{26,000 \times 16}{100} \\ \\ SI = \frac{4,16,000}{100} \\ \\ SI = 4,160[/tex]