Question

Ramesh invests 12800 for 3 years at the rate of 10% p.a compound interest. Find:
i) the sum due to ramesh at the end of the first year.
ii) the interest he earns for the second year.
iii) the total amount due to him at the end of three years.​

Answer 1

Answer:

$\huge \purple{{\colorbox{black}{Answer}}}$

1. 14080

2. 1408

3. 17036.8

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$\large \purple{{\colorbox{black}{step \: by \: step \: explanation}}}$

$\sf the \: amount \: invested= 12800$

$\sf number \: of \: years= 3$

$\sf rate \: of \: interest \: per annum= 10%$

$\sf interest \: generated \: for \: first \: year$

$12800* \frac{10}{100} = 1280$

since, it is completed interest the sum he gets at the end of first year is

$12800 + 1280 = 14080$

$\sf interest \: generated \: for \: second \: year$

$14080* \frac{10}{100} = 1408$

so 1408 is the interest generated for second year and the total becomes 15488

$\sf interest \: generated \: for \: third \: year$

$15488* \frac{10}{100} = 1548.8$

so the total earnings by the end of three years are

$15488 + 1548.8 = 17036.8$