calculate the compound interest for second year on 6000 invested for 3yrs at10% per annum. also find sum due at the end of third year
Answers
Answered by
6
As per formula that is A=P(1+r)^n
r = given time/100
Now,
A=6000(1+0.1)^2
Here n will be 2 because as per question it asks only for 2nd year
A=6000(1.1)^2
A=6000(11/10)^2
A=6000×121/100
A=7260
and the reaming will be same but you have to take n = 1 because only 1 year time is now remaing.
Hope it will help you out...
r = given time/100
Now,
A=6000(1+0.1)^2
Here n will be 2 because as per question it asks only for 2nd year
A=6000(1.1)^2
A=6000(11/10)^2
A=6000×121/100
A=7260
and the reaming will be same but you have to take n = 1 because only 1 year time is now remaing.
Hope it will help you out...
Similar questions