Question

Ramesh invests 12800 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.
(ii) the interest he earns for the second year. .
(111) the total amount due to him at the end of three
years.​

Answer 1

Answer:

P =Rs.12800

Rate of interest =10 %

Interest for the first year =

100

PRT

⇒

100

12800×10×1

=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=

100

PRT

⇒

100

14080×10×1

=Rs.1408

Answer 2

It is given that

Principal = ₹ 12800

Rate of interest = 10% p.a.

(i) We know that

Interest for the first year = (12800 × 10 × 1)/ 100

= ₹ 1280

So the sum due at the end of first year = 12800 + 1280

= ₹ 14080

(ii) Principal for second year = ₹ 14080

So the interest for the second year = (14080 × 10 × 1)/ 100

= ₹ 1408

(iii) We know that

Sum due at the end of second year = 14080 + 1408

= ₹ 15488

Here

Principal for third year = ₹ 15488

Interest for the third year = (15488 × 10 × 1)/ 100

= ₹ 1548.80

So the total amount due to him at the end of third year = 15488 + 1548.80

= ₹ 17036.80