Question

Calculate the amount and
compounded
intrest
on Rs 10800 for 3 years
at 10%per annum compounded
annually​

Answer 1

Answer:

For the first year:

Principal = ₹10800

Time = 1 year

Rate of interest = 10% per annum

Simple interest = $\frac{p \times r \times t}{100}$$=₹\frac{10800 \times 1 \times 10}{100}$= ₹ 1080

Amount = P+S.I.= ₹ 10800+₹ 1080= ₹ 11880

For the second year:

Principal = ₹ 11880

Time = 1 year

Rate of interest = 10% per annum

Simple interest =$\frac{11880 \times 1 \times 10}{100}$= ₹ 1188

Amount = ₹ 11880+ ₹ 1188= ₹ 13068

For the third year:

Principal = ₹ 13068Time = 1 year

Rate of interest = 10% per annum

Simple interest =$\frac{13068 \times 1 \times 10}{100}$= ₹ 1306.8

Amount = ₹ 13068+₹1306.8= ₹ 14,374.8

Compound Interest for 3 years = sum of amount of 3 years

₹ 11880+ ₹ 13068+ ₹ 14374.8 = ₹ 39322.8

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