Question

Find the sum of money that amounts to
(1) 212 000 in 4 years at the interest rate of 5% per annum.
(11) 28250 in 5 years at the interest rate of 7.5% per annum.​

Answer 1

• 1st year= 5%of 212000

212000*5/100=10600rupees(1st year)

• 2nd year= 5% of (212000+10600) 222600*5/100=11130rupees(2nd year)

• 3rd year= 5% of (222600+11130)

233730*5/100=11686.5(3rd year)

• 4th year= 5% of (245416.5)

245416.5*5/100= 12270(4th year)

• ans 257686