Question

Mr. Kaul deposits a fixed amount of money for a 5 year period. Some details of the account (Interest compounded annually) are given below: Principal on which interest is computed for the first year : Rs 40000 .Interest earned for the first year : Rs 2000. Interest earned for the second year : Rs 2100. Interest earned for the third year : Rs 2205. The amount (Principal) on which the interest for the fourth year will be calculated is

Answer 1

Answer:

Mr. Kaul deposits a fixed

amount of money for a 5 year

period. Some details of the

account (Interest compounded

annually) are given below:

Principal on which interest is

computed for the first year : Rs

40000 .Interest earned for the

first year : Rs 2000

Interest earned for the second

year : Rs 2100

Interest earned for the third

year : Rs 2205

The amount (Principal) on

which the interest for the

fourth year will be calculated is