Question

(b)A man invest Rs650 for 3 years at 9% per annum. Calculate the
(i)interest for the first year.
(ii)Amount at the end of the second year.
(iii)Compound interest in 3 years.​

Answer 1

Step-by-step explanation:

given

P=£650

n=3 years

r=9%

solution:

(i) I=P×R×T/100

I=650×3×1/100

I=19.5

amount=669.5

(ii) I=P×R×T/100

I= 669.5×9×1/100

I= 6695×9×1/1000

I=60.255

amount =I + P

= 729.755