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:

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

Answer 2

Answer:

Step-by-step explanation:

I=(2000/40000)100 =5%

again (2100/42000)100=5%

again it 3rd year (2205/44100)100=5%

for the fourth year the interest amount will be x (say)

⇒{x/(44100+2205)}100=5=I

⇒(x/46305)100=5

⇒x=(5/100)46305

⇒x=46305/20=2265.25 which is the interest of fourth year to be added