Mario invested Rs8,000 in a domain. She would be paid interest ar 5% per annum calculated annually. Find: (i) the amount credited against his name at end of third year.
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Step-by-step explanation:
Correct option is A)
Here P=Rs.8000,R=5%per annum and n=2 years.
∴ Amount after 2 years =P(1+
100
R
)
n
Amount after 2 years =Rs.[8000×(1+
100
5
)
2
]
Amount after 2 years =Rs.(8000× 100
105× 100105 )=Rs.8820
Now, the principal for the third year will be the amount at the end of the second year.
Interest=
100
P×R×T
Interest=
100
8820×5×1
= Rs441
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