Abhimanyu invested ₹100000 at 13% p.a.
annually.Find the following. a) The amount at the end of the second year. b) The intrest for the third year
Answers
Answer:
Answer;
Here's Your Answer
Step by Step Explanation -
Given;
• Amount = 1,00,000
• Rate 13% p.a. . Time = 3 years ( according to understanding)
Now, Asked is;
(i) The amount standing to his credit at the end of the second year. (ii) The interest for the third year.
(i) First Question;
. We know the Formula ;
=> A=P ( 1+R x 1/2 + 100 )2n => A = 100000 (1+13 x 1/2 ÷ 100 )4
=> A = 100000 (1+6.5/100)4
=> A= 100000 (106.5/100)4
=> A= 100000 x 106.5/100 x 106.5/100 x
106.5/100 x 106.5/100
=> A=128,646.63
. Hence, the amount standing to his credit at
the end of the second year is 128,646.63.
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(ii) Second Question ;
• According to the formula above discussed
=> A=P ( 1+R x 1/2 + 100 )2n
=> A=128,646.63 (1+6.5/100)2
=> A=128,646.63 x 106.5/100 x 106.5/100.
=> A = 145,914.23
. We know that;
→ CI=A-P
=> CI = 145,914.23 - 100000
=> CI=45,914.23
Hence,
The CI 45,914.23 and as above taken interest for the third year is 128,646.63.
Regards @dmohit432