Question

Calculate the compound interest for the second year on 6000 invested for 3 years at
10% p.a. Also find the sum due at the end of third year.​

Answer 1

Answer:

C.I = Rs.1986 , Amount = Rs.7986

Step-by-step explanation:

Principal = 6000

Rate of interest = 10%

Time = 3 years

Amount = P[1 + r/100]^n = 6000[1 + 10/100] ^3

             = 6000 x 11/10 x 11/10 x 11/10

             = Rs.7986

C.I = A - P = 7986 - 6000

     = Rs.1986