Question

A sum of ₹9600 is invested for 3 years at 10% per annum at 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 2year?

Answer 1

Answer:

see image for answer

this is correct answer

Answer 2

Step-by-step explanation:

It is given that 

Principal= 9600 

Rate of interest = 10% p.a

Period = 3 years 

We know that 

Interest for the first year= Prt/100

Substituting the values 

= (9600×10×1)/100

= 960

(i) Amount after one year = 9600 - 960= 10560

So the principal for the second year = 10560

Here the interest for the second year= (10560×10×1)/100

                                                         =1056

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

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