Question

Ramesh invest rs 12800 for three yrs at the rate of 10%per annum compound interest find:​

Answer 1

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MATHS

Ramesh invests Rs. 12,800 for three years at the rate of 10% per annum compound interest. Find the interest he earns for the second year.

A

Rs. 1,162

B

Rs. 1,243

C

Rs. 1,408

D

Rs. 1,591

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ANSWER

P =Rs.12800

Rate of interest =10 %

Interest for the first year =100PRT

⇒10012800×10×1=Rs.1280

Amount after first year=12800+1280=Rs.14080

For Second year

Principal =Rs.14080

R =10%

T =1 year

then Interest for second year=100PRT

⇒10014080×10×1=Rs.1408