Question

Rameshinvested rupees 20,000 for 3 years at the rate of 10°/•p.a. compound interest. Find
A= the intrest he earns for the firat year.
b= the sum due to Ramesh at the end of the second hear.
c= the total amount due to him at the end of the third year ​

Answer 1

Answer:

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