Solve this question please guys
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compound interest for first year= p.r.t/100
16000*12.5*1/100=2000
thus total amount for first year is 19000.
as in CI total amount of first year is principal amont for second year,
ci= 19000*12.5*1/100=2375
total amount for second year = 21375
as in CI total amount of secon year is principal amont for third year,
CI =21375*12.5*1/100=2671.875
total amount for third year=24046.875
16000*12.5*1/100=2000
thus total amount for first year is 19000.
as in CI total amount of first year is principal amont for second year,
ci= 19000*12.5*1/100=2375
total amount for second year = 21375
as in CI total amount of secon year is principal amont for third year,
CI =21375*12.5*1/100=2671.875
total amount for third year=24046.875
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Principal = Rs 16000
interest rate = 12.5%
Find the amount after 2 years:
Amount = P(1 + r)ⁿ
Amount = 16000 (1 + 0.125)²
Amount = Rs 20,250
Find the amount after 3 years:
Amount = P(1 + r)ⁿ
Amount = 16000 (1 + 0.125)³
Amount = Rs 22,781.25
Answer: (a) Rs 20,250 (b) Rs 22,781.25
He earned: Rs 18000 after 1 year, Rs 20,250 after 2 years and Rs 22,781.25 after 3 years.
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