Question

Aryman invested ₹10000 in a company. He would be paid interest at 7 percent per annum compounded annually. Find the interest for the 3rd year​

Answer 1

Answer:

Step-by-step explanation:

Given

Investment to a company (P) = Rs 10000

Rate of interest (R) = 7% p.a.

Period (n) = 2 years

Hence,

Amount (A) = P {1 + (R / 100)}  n

 

= Rs 10000 {1 + (7 / 100)}  2

 

= Rs 10000 × (107 / 100) × (107 / 100)

On simplification, we get,

= Rs 11449

Amount after 3  rd

 year = Rs 11449 × (107 / 100)

We get,

= Rs 12250.43

Therefore,

Interest on the 3  rd

 year = Rs 12250.43 – 11449

= Rs 801.43

Answer 2

Answer:

2100

Step-by-step explanation:

10000 and 7% per annum so 3year annum is 2100