 # ML Aggarwal Solutions Class 8 Mathematics Solutions for Simple and Compound Interest Exercise 8.2 in Chapter 8 - Simple and Compound Interest

a man invests Rs 46875 at 4% per annum compound interest for 3 years.

Calculate:

(i) the interest for the first year

(ii) the amount standing to his credit at the end of the second year

(iii) the interest for the third year

(i) Principal for the first year = Rs 46875

Rate of interest = 4% per annum

Therefore,

Interest for the first year = Rs (46875 × 4 × 1) / 100

We get,

= Rs 46875 / 25

= Rs 1875

Hence, interest for the first year is Rs 1875

(ii) Amount at the end of first year

= Rs 46875 + Rs 1875

We get,

= Rs 48750

Principal for the second year = Rs 48750

Interest for the second year = Rs (48750 × 4 × 1) / 100

= Rs 48750 / 25

We get,

= Rs 1950

Amount at the end of second year = Rs 48750 + Rs 1950

We get,

= Rs 50700

Hence, the amount at the end of second year is Rs 50700

(iii) Principal for the third year = Rs 50700

Interest for the third year = Rs (50700 × 4 × 1) / 100

We get,

= Rs 507 × 4

= Rs 2028

Hence, the interest in the third year is Rs 2028

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