Question

Abhimanyu invested ₹100000 at 13% p.a. compounded annually. Find the following
1. The amount standing to his credit at the end of the second year
2.The interest for the third year​

Answer 1

Answer:

Step-by-step explanation:

1.

principal=100000

R.O.I = 13% per annum comp. ann.

N= 2 year

A= P(1+R/100)^n

= 100000(1+13/100)^2

= 100000(113/100)^2

= 100000* 113/100*113/100

= 10*113*113

= 106090

hence, Abhimanyu have to pay 106090 at the end of three year.

2.

principal= 100000

R.O.I = 13% per annum comp.annu.

N= 3 year

A = 100000(1+13/100)^3

= 100000*113/100*113/100*113/100

= (113*113*1113)/10

= 1198817/10

= 119881.7