Question

acob invests 12000 for 3 years at 10% per annum. calculate the amount and the compound interest that Jacob will get after 3 years

Answer 1

hope it satisfy you

Answer 2

Principal for the first year = Rs 12000

Rate of interest = 10% p.a.

Interest for the first year = Rs (12000 × 10 × 1) / 100

= Rs 1200

Amount at the end of first year = Rs 12000 + Rs 1200

= 13200

Principal for the second year = Rs 13200

Interest for the second year = Rs (13200 × 10 × 1) / 100

= Rs 1320

Amount at the end of second year = Rs 13200 + Rs 1320

= Rs 14520

Principal for the third year = Rs 14520

Interest for the third year = Rs (14520 × 10 × 1) / 100

= Rs 1452

Amount at the end of third year = Rs 14520 + Rs 1452

= Rs 15972

Hence,

Compound interest for 3 year = Final amount – (original) Principal

= Rs 15972 – Rs 12000

= Rs 3972

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