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Formula for CI

Question 79ii...

Question

Question 79(ii)

Given, the principal = Rs. 40000, rate of interest = 8% per annum compound annually. Find Principal for 2nd year.

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Solution

Given, principal (P)= Rs. 40000
Rate of interest (R) = 8% per annum

Amount After first year $= 40000 {(1 + \frac{8}{100})}^{1}$

$= 40000 \times \frac{108}{100} = R s . 43200$

Amount of 1st year = Principal of 2nd year = Rs. 43200

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