A sum of ₹13,500 is invested at 16% per annum compound interest for 5 years. Caculate:1) the inrest for the first year. 2) the amount at the end of first year.3) the interst for the second year, correct to the nearest rupee.
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Answers
Answered by
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Step-by-step explanation:
Sum=Rs.13500
Rate=16%
Amount at the end of first year=P(1+
100
R
)
T
⇒13500(1+
100
16
)
⇒13500×
100
116
=Rs.15660
For the second year
Sum=Rs.15660
Then amount after second year=15660(1+
100
16
)
⇒15600×
100
116
=Rs.18165.6
∴ Interest for second year=18165.6−15660=Rs.2505.6=Rs.2506
Answered by
0
Hi here is your answer
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Step-by-step explanation:
Sum=Rs.13500
Rate=16%
Amount at the end of first year=P(1+
100
R
)
T
⇒13500(1+
100
16
)
⇒13500×
100
116
=Rs.15660
For the second year
Sum=Rs.15660
Then amount after second year=15660(1+
100
16
)
⇒15600×
100
116
=Rs.18165.6
∴ Interest for second year=18165.6−15660=Rs.2505.6=Rs.2506
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