4. A man invests 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 second
year.
(i) the interest for the third year.
Answers
Answer:
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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
Answer:
principle= Rs . 46875
Rate = 4℅
Time = 3 yrs
(i) C.I for one yrs
S.I= P×R×T/100
S.I = 46875×4×1/100
= RS 1875
C.I at end of 1 year = P + S.I
= 46875+1875
= 48750
(ii) Principle = 48750
Rate = 4℅
Time= 1 year
S.I = 48750 ×4 ×1/ 100
= Rs1950
C.I at the end of second year = 48750+ 1950
= 50700
(iii) principle = 50700
Rate = 4 ℅
Time = 1 year
S.I = 50700 ×4×1/ 100
= 2028
C.I at end of third yrs = 50700+ 2028
= 52728
Given :- Aman invests ₹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.
Solution :-
- Principal = ₹46875
- Rate = 4% per annum compounded annually.
- Time = 3 years.
we know that,
for first year CI and SI both are same.
SI = (P * R * T) / 100 .
so,
→ The interest for the first year = (46875 * 4 * 1)/100 = ₹1875 (Ans.i)
Now,
→ Amount after the first year = Principal for the second year = P + SI = 46875 + 1875 = ₹48750 .
So,
→ SI for second year = (48750 * 4 * 1)/100 = ₹1950 .
then,
→ Amount at the end of second year = Principal for the second year + SI for second year = 48750 + 1950 = ₹50700 (Ans.ii)
therefore,
→ Principal for third year = Amount at the end of second year = ₹50700
hence,
→ The interest for the third year = (50700 * 4 * 1)/100= ₹2028 (Ans.iii)
Learn more :-
CI in 2yr is Rs. 1600 and in 3 yrs it will be Rs. 1700. Find the rate of interest.
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