Ramesh invest rupees rupees 12800 for 3 years at the rate of 10 % compound interest find the some due to ramesh at the end of the first year second the interest he earns for the second year 3rd the total amount due to him at the end of the third year
Answers
Answer:
Step-by-step explanation:
Principle Amount invested by Ramesh = Rs. 12800
Rate (%) = 10%
C.I (Compound Interest) = PTR/100
Where, P = Principle Amount
T = Time
R = Rate percent
(a) Sum due to Ramesh at the end of first year
C.I = PTR/100
P = Rs. 12800
R = 10
T = 1 (1st year)
Compound Interest = (12800 x 1 x 10)/100
= Rs. 1280
Therefore, due amount at the end of first year
= Principle Amount + Interest gained
= 12800 + 1280 = Rs. 14080
(b) Interest for the second year
C.I = PTR/100
P = Rs. 14080
T = 2 (2nd year)
R = 10
C.I = (14080 x 2 x 10)/100
= 1408 Therefore, the Interest for the second year = Rs. 1408
(c) The total amount due to him at the end of 3rd year
Amount due to him at the end of 2nd year = Principle Amount + Interest Gained
= 14080 + 1408
= Rs. 15488
C.I for the 3rd year = PTR/100
P = Rs. 15488
T = 3
R = 10
C.I = (15488 x 3 x 10)/100
= Rs. 1548.80
Therefore,
Amount due at the end of the 3rd year
= Principle Amount (from the beginning of the 3rd year) + Interest Gained
= 15488 + 1548.80
= Rs. 17036.80
Step-by-step explanation:
please check the picture for the answer.
