Question

A sum of Rs.12,000 is invested for 3 years at 18 % per annum compound interest. Calculate the interest for the second year.


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Answer 1

Step-by-step explanation:

Intrest for first year

»» 12,000×1×18/100

»» 2160

Amount after first year

»» 12,000+2160

»» 14160

Intrest for second year

»» 14160×1×18/100

»» 2550 (approx)

hope it helps you.

Answer 2

Answer:

$intrest \: for \: the \: second \: year \\ = 14160 \times 1 \times \frac{18}{100} \\ = rs. \: 2548.8.$