Question

A sum of ₹9600 is invested for 3 years at 10%p.a. Compound interest. Find the compound interest in the first 2 years.






please help me​

Answer 1

It is given that  

Principal= $Rs.9600$

Rate of interest % p.a

Period $= 3$ years

To find the compound interest

We know that  

Interest for the first year,

$=>\frac{Prt}{100}$

By substituting the values  

$=>\frac{9600\times10\times1}{100} \\=>960$

Amount after one year$= 9600 - 960= 10560$

So the principal for the second year $= 10560$

Here the interest for the second year

$=>\frac{10560\times10\times1}{100}$

$=>1056$

Now, for compound interest earned in 2 years

$=> 960+1056\\=>2016$

Answer 2

Given:

Interest for the first year=

$\frac{9600\times10\times1}{100}\\=960 RS$

Amount after the first year=Rs9600+Rs960=Rs10560

The sum due at the end of the first year=10560

Interest for the second year

$=\frac{10560\times10\times1}{100}\\=1056$

Amount after the second year=Rs10560+Rs1056 =Rs11616

The sum due at the end of the second year=11616

Compound Interest earned in 2 years==Rs11616−Rs9600=Rs2016

Hence compound interest in the first 2 years is Rs2016