Question

Shivam invests 93750 at 9.6% per annum for 3 yr and the
interest is compounded annually, calculate
(a) the amount standing to his credit at the end of second
year
(b) the interest for the third year​

Answer 1

$\huge\sf\underline{\underline{\pink{ Answer:-}}}$

a) 112164

b) 10810.94

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Shivam invests 93750 at 9.6% per annum for 3 yr and the interest is compounded annually, calculate:-

(a) the amount standing to his credit at the end of second year?

(b) the interest for the third year?

$\sf\underline{\underline{\green{FIND \: }}}$

(a) the amount standing to his credit at the end of second year?

(b) the interest for the third year?

$\huge\underline\mathbb{\red S\pink {0} \purple {L} \blue {UT} \orange {1}\green {ON :}}$

$a) \: <strong>We</strong> \: <strong>have</strong>$

$Principal(P) \: = Rs \: 93750$

$Rate(R) \: = 9.6\% \: p.a$

$Time(n) \: = 2yrs$

$<strong>Now</strong>,$

Amount (A)

=> $p [1 \: + \: \frac{r}{100} ] {}^{n}$

$= > 93750[1 + \frac{9.6}{100}] {}^{2}$

$= > 93750 \times( \frac{109.6}{100}) {}^{2}$

=>$Rs \: 112614$

$b) \: We \: have$

$<strong>Now, </strong>\:$

$principal for \: third \: year$

$P = Rs \: 112614$

$Rate \: (R) \: 9.6\% \: p.a$

$Time \:(T) = 1 \: yrs$

$Interest \: = \frac{p \times r \times t}{100}$

=> $\frac{112614 \times 9.6 \times 1}{100}$

=> $Rs \: 10810.94$