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.
Answers
Answered by
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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.
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