Mrs. Kapoor invested 6,000 every year at the beginning of the year, at 10% per
annum compound interest. Calculate the amount of her total savings :
(i) upto the end of the second year. (ii) at the beginning of the third year.
Answers
Answer:
Mrs. Kapoor invested Rs. 6,000 every year at the beginning of the year, at 10% per annum compound interest. Calculate the amount of her total savings :
(i) upto the end of the second year.
(ii) at the beginning of the third year.
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ANSWER
(i) For 1st year :
Since, money invested at the beginning of the year = Rs. 6,000
⇒ Principal for 1st year = Rs. 6,000
∴ Interest =Rs.
100
6,000×10×1
=Rs.600
And, amount =Rs.6,000+Rs.600=Rs.6,600
For 2nd year:
Since, Rs. 6,000 is invested again at the beginning of the second year, therefore, for the second year, principal =Rs.6,600+Rs.6,000=Rs.12,600
Interest =Rs.
100
12,600×10×1
=Rs.1,260
And, amount =Rs.12,600+Rs.1,260=Rs.13,860
∴ Amount of her total saving upto the end of the second year =Rs.13,860
(ii) since, Rs. 6,000 is invested again at the beginning of the third year,
∴ Amount of her total saving at the beginning of the third year
=Rs.13,860+Rs.6,000=Rs.19,860 Ans.
Answer:
19,860
Step-by-step explanation:
for for first year
since money invested at the beginning of the year is equal to 6000
principle of 1st year is equal to 6000
therefore interest is equal to rupees 6000 into 10 into 1 divided 100 is equal to rupees 600
and amount is equal to rupees 6,000 + rupees 600 is equal to 6600
for second year ,
since rupeese 6000 is invested again at the beginning of the second year, therefore for the second year, principle=rs. 6000+6600= Rs. 12600
intrest=Rs 12600×10×1÷100=rs.2260
and amount=Rs. 12600+Rs 1260=13860
therefore amount of her total saving upto the end of the second year=Rs.13860
since rupeese 6000 is invested again at the beginning of the third year,
therefore amount of her total saving at the beginning of the third year
=Rs.13860+Rs6000=Rs.19860