Question

calculate the compound interest for the second year on rupees 6000 invested for 3 years at 10% per annum also find the sum due at the end of 3rd year

Answer 1

Answer: a) Rs.660 b) Rs. 7986.

Step-by-step explanation:

Since we have given that

Principal = Rs. 6000

Rate of interest = 10%

Number of years = 3

Interest for the first year would be

$\dfrac{6000\times 10\times 1}{100}=Rs.\ 600$

sum for the second year would be

6000+600 = Rs. 6600

Compound interest for the second year.

$\dfrac{6600\times 10\times 1}{100}=Rs.\ 660$

Sum for the third year would be

$6600+660=7260$

Compound interest for the third year would be

$\dfrac{7260\times 10\times 1}{100}=Rs.\ 726$

Sum due at the end of 3 rd year would be

$7260+726=Rs.\ 7986$

Hence, a) Rs.660 b) Rs. 7986.

Answer 2

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