#### Calculate the compound interest for the second year on ₹ 8000 for three years at 10% p.a.

Also find the sum due at the end of third year.

**Solution:**

It is given that

Principal = ₹ 8000

Rate of interest = 10% p.a.

We know that

Interest for the first year = Prt/100

Substituting the values

= (8000 × 10 × 1)/ 100

= ₹ 800

So the amount after the first year or principal for the second year = 8000 + 800 = ₹ 8800

(i) Interest for the second year = (8800 × 10 × 1)/ 100

= ₹ 880

So the amount after second year or principal for the third year = 8800 + 880 = ₹ 9680

Interest for the third year = (9680 × 10 × 1)/ 100

= ₹ 968

(ii) Amount due at the end of the third year = 9680 + 968

= ₹ 10648

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