Question

A sum of ₹ 9600 is invested for 3 years at 10% p.a compound interest. (I) What is the sum due at the end of the first year? (ii) What is the sum due at the end of the second year? (iii) Find the compound interest earned in the first 2 years. (IV) Find the amount at the end of 3 years.​

Answer 1

Answer:

It is given that

Principal 9600 Rate of interest = 10% p.a Period 3 years =

Interest for the first year- Prt/100

We know that Substituting the values = (9600 × 10 × 1)/100

Feedback

= 960

(i) Amount after one year = 9600 - 960=

10560

So the principal for the second year: = Here the interest for the second year=

10560

(10560 × 10 × 1)/100

=1056

(ii) Amount after two years =10560 + 1056 11616

(iii) Compound interest earned in 2 years = 960+10560 = 2016

(iv) Difference between the answers in (ii) and (i) =11616 - 10560 1056

We know that

Interest on 1056 for 1 year at the rate of 10% p.a. (1056 × 10 × 1)/100

105.60

(v) Here Principal for the third year = 11616 So the interest for the third year = (11616 ×

10 × 1)/100

=1161.60