Question

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.

very urgent​

Answer 1

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

Answer 2

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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