Question 7 iMaria invested Rs 8-000 in a business- She would be paid interest at 5i The amount credited against her name at the end of the second year-

(i) Here, Principal (P) =Rs 8000, Rate of interest (R) = 5 Amount (A) = P ( 1+R/100 )^n=80000 ( 1+5/100 )^2=80000 ( 1+1/20 )^2 = 8000 ( 21/20 )^2=8000×21/20× ...

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Standard VIII

Mathematics

Compound Interest and its Formula

Question 7 iM...

Question

Question 7 (i)
Maria invested Rs 8,000 in a business. She would be paid interest at 5% per annum compounded annually. Find:
(i) The amount credited against her name at the end of the second year.

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Solution

(i) Here, Principal (P) =Rs 8000, Rate of interest (R) = 5%, Time (n) = 2years
Amount (A) = $P {(1 + \frac{R}{100})}^{n} = 80000 {(1 + \frac{5}{100})}^{2} = 80000 {(1 + \frac{1}{20})}^{2}$
$= 8000 {(\frac{21}{20})}^{2} = 8000 \times \frac{21}{20} \times \frac{21}{20}$
=Rs. 8,820

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Question 7 (i) Maria invested Rs 8,000 in a business. She would be paid interest at 5% per annum compounded annually. Find: (i) The amount credited against her name at the end of the second year.

(i) Here, Principal (P) =Rs 8000, Rate of interest (R) = 5%, Time (n) = 2years Amount (A) = P(1+R100)n=80000(1+5100)2=80000(1+120)2 =8000(2120)2=8000×2120×2120 =Rs. 8,820

Question 7 (i)
Maria invested Rs 8,000 in a business. She would be paid interest at 5% per annum compounded annually. Find:
(i) The amount credited against her name at the end of the second year.

(i) Here, Principal (P) =Rs 8000, Rate of interest (R) = 5%, Time (n) = 2years
Amount (A) = $P {(1 + \frac{R}{100})}^{n} = 80000 {(1 + \frac{5}{100})}^{2} = 80000 {(1 + \frac{1}{20})}^{2}$
$= 8000 {(\frac{21}{20})}^{2} = 8000 \times \frac{21}{20} \times \frac{21}{20}$
=Rs. 8,820