A man invests ₹ 46875 at 4% per annum compound interest tor 3 years. Calculate the interest of the third year
Answers
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 the second year.
(iii)the interest for the third year.
share
Share
Answer
It is given that
Principal= 46875
Rate of interest = 4% p.a
(i) Interest for the first year= Prt/100
Substituting the values
=(46875×4×1)/100
= 1875
So the amount after the first year or principal for the second year= 46875+1875=48750
Here
Interest for the second year=(48750×4×1)/100= 1950
(ii) We know that
Amount at the end of second year = 48750+1950
= 50700
(iii) Interest for the third year =(50700×4×1)/100=2028
Step-by-step explanation:
Bro use formula to solve it ok its pretty easy dude
Mark me the branliest