Question

Calculate the amount and compound interest on 10,000 for 3 years at 2% per annum​

Answer 1

Answer:

For Ist year

Principal (P) = Rs. 10000

Rate (R) = 8%

Time (T) = 1 year

∴ Interest = (10,000 × 8 × 1)/100 = 100 × 8 = Rs. 800

For 2nd year

P = Rs. 10,000 + Rs. 800 = Rs. 10,800

Rate (R) = 8%

Time (T) = 1 Year

∴ Interest = (10,800 × 8 × 1)/100 = 108 × 8 = Rs. 864

For 3rd year

∴ P = Rs. 10,800 + Rs. 864 = Rs. 11664,

R = 8%

T = 1 Year

∴ Interest = (11664 × 8 × 1)/100 = (11664 × 2)/25

= Rs. 933.12

∴ Amount = Rs. 11664 + 933.12 = Rs. 12597.12

Hence required amount = Rs. 12597.12

∴ Compound interest

= Rs. 12597.12 – 10000 = Rs. 2597 . 12

Answer 2

Answer:

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Step-by-step explanation:

Given Rate of interests are r

1

=5%=0.05,r

2

=8%=0.08,r

3

=10%=0.1

Principal Amount is A=10,000

Time is t=1 years

Interest is compounded yearly once ⟹n=1

for 1st year ,Amount =P(1+

n

r

1

)

nt

=10000(1+0.05)=10500

for 2nd year ,Amount =P(1+

n

r

2

)

nt

=10500(1+0.08)=11340

for 3rd year ,Amount =P(1+

n

r

3

)

nt

=11340(1+0.1)=12474

Total Interest is 12474−10000=2474