Question

A man invests ₹ 16000 at 10% p.a. compound interest for 3 years.

Find:

i) the interest for the first year.

ii) the amount in his credit at the end of the second year.

iii) the interest for the third year​

Answer 1

hope it helps u dear

Step-by-step explanation:

principal = rs 10,000

rate of interest = 12%

time = 2 yrs

amount = principal × ( 1 + R ÷ 100 ) ^ n

= 10,000 × ( 1 + 12 ÷ 100 ) ^ 2

= 10,000 × ( 1 + 3 ÷ 25 ) ^ 2

= 10,000 × ( 27 ÷ 25 ) ^ 2

= 10,000 × 27 ÷ 25 × 27 ÷ 25

= rs 11,664

answer = rs 11,664