Question

If a certain principal amounts to Rs 44000 at 5 percent p.a. over 2 years, how much will it amount to in 3 years at the same rate ? Please answer first

Answer 1

(44000-p)=pnr/100

100(44000-p)=pnr

r=5

n=2

4400000-100p=p*5*2

4400000-100p=10p

4400000=100p+10p

4400000=110p

4400000/110=p

=40,000

P=Rs.40,000

Interest for 2 years = Rs.4000

For 1 year it will be Rs.2000

So for 3 years it will be Rs. 6000

Answer 2

SI=P*R*T/100=44000*5*2/100=4400. Amount =P+SI=44000+4400=48400