Question

Ramesh invests 12800 for three yrs at the rate of 10% per annum 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
the third year.
​

Answer 1

3.(i) Prin= 12800

Rate= 10%

Time= 1 year

A= P(1+R/100)1

A=12800(1+10/100)1

=12800×11/10

Amt = 14080

3.(ii) Prin= 12800

Rate= 10%

Time=2 years

A=P(1+10/100)2

=12800×11/10×11/10

A =15488

CI=(15488-12800)

=2688.