calculate the compound interest for the second year on rupees 8000 invested for 3 years at 10% per annum also,find the sum due at the end of the third year
Answers
sum due at the end of 3rd year = 10648
SOLUTION
compound interest = p(1+r/100)^2-p
= 8000(1+10/100)^2-8000
=8000*11/10*11/10-8000
=80*11*11-8000
=80*121-8000
=9680-8000
=1680
2.] sum due at the end =A = P(1+r/100)^3
=8000(1+10/100)^3
=8000*11/10*11/10*11/10
=8*11*11*11
=8*121*11
=8*1331
=10648
Answer:
Step-by-step explanation:
For the first year :
Principal = rupees 8000 , Time = 1 year , Rate = 10%
Interest = PRT/100
=8000*10*1/100
=rupees 800
Amount = P+I
= 8000+800
=rupees 8800
For the second year :
Principal = rupees 8800 , Time = 1 year , Rate = 10%
Interest = PRT/100
= 8800*10*1/100
= 880
Amount = P+I
= 8800+880
=9080
CI for second year = amount - original principal
= 9080-8000
= 1080
For the second year :
Principal = 9080 , Time = 1 year , Rate = 10%
Interest = PRT/100
=9080*10*1/100
= 908
Amount = 9080+908
= 9988
Sum at the end :
A = P ( 1+R/100 )^T
A = 8000 ( 1+10/100 )^3
A = 8000 ( 110/100 )^3
A = 8000 ( 11/10 )^3
A = 8000 * 11/10 * 11/10 * 11/10
A = 8 * 11 * 11 * 11 ( by cutting all zeros together )
A = rupees 10648
SUM AT THE END = rupees 10648
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