Question

A sum of 10000 is invested in a cumulative fixed deposit giving 10% p.a. compound interest. find the interest earned in 4th year.​

Answer 1

Answer:

Step-by-step explanation:

Interest in 4th Year = 10000 * (1+10%)^4 - 10000 * (1+10%)^3

= 10000 * (1.1^4 - 1.1^3)

= 10000 * (1.4641 - 1.331)

= 10000 * 0.1331

= 1331