Math, asked by kriteechaurasia123, 8 months ago

compounded annually. Find
7. Aryman invested P10000 in a company. He would be paid interest at 7% per annum
(i) the amount received by him at the end of 2 years.
(ii) the interest for the 3rd year.
um compound​

Answers

Answered by pratikshapawar
11

Step-by-step explanation:

Given

Investment to a company (P) = Rs 10000

Rate of interest (R) = 7% p.a.

Period (n) = 2 years

Hence,

Amount (A) = P {1 + (R / 100)}

n

= Rs 10000 {1 + (7 / 100)}

2

= Rs 10000 × (107 / 100) × (107 / 100)

On simplification, we get,

= Rs 11449

Amount after 3

rd

year = Rs 11449 × (107 / 100)

We get,

= Rs 12250.43

Therefore,

Interest on the 3

rd

year = Rs 12250.43 – 11449

= Rs 801.43

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