Question

Ramesh invests ₹12, 800 for three years at the rate of 10% per annum compound interest Find:
1)the sum due to Ramesh at the end of the first year
2)the intrest he earns for the second year
3)the total amount due to him at the end of the third year​

Answer 1

Answer:

• Investment = ₹12800

• Interest rate = 10% compound

• Compound rate = 1 per year

1) Sum at the end of first year:

• ₹12800*(1+10/100)= ₹12800*1.1= ₹14080

2) Interest for second year:

• ₹14080*0.1= ₹1408

3) Total amount at the end of third year:

• ₹12800*1.1³= ₹17036.8