what shall be the amount for a sum of Rs.1000 at 10% for 3 years compounded annually?
Answers
Answer:
Step-by-step explanation:
The sum of Rs. 1000 after 3 years at CI at 10 % will become 1331.
Now as per the question, 1728 became 1331 after 3 years of depreciation at a certain unknown rate. So this entirey becomes a new question. We now need to find the rate at which 1728 became 1331 in 3 years.
This formula might be of help- - rate = [(amount/principle)^1/t] - 1 × 100
r = ([(1331/1728)^1/3] - 1) × 100
r = [(11/12) - 1 ] × 100
r = -1/12 × 100
r = 100/12 % ( WE can neglect the negative sign)
Let's find the difference now.
the rate of CI = 10 %
the rate of depreciation = 100/12% = 25/3 %
difference = 10 - 25/3 = 5/3 % Answer.. .
Answer:
P= Rs. 1000,
R=10%, p.a.
T=3 years
Interest for the 1st year
= 100
P×R×T
= 100 1000×1×10
=Rs.100
Amount after the 1st year = Principal for the 2nd year =1000+100=Rs.1100
Interest after 2nd year =
100
1100×1×10
=Rs.110
Amount after the 2nd year =Principal ( for the 3rd year) =1100+110=Rs.1210
Interest for the 3rd year =
100
1210×1×10
=Rs.121
Amount after the 3rd year =1210+121=Rs.1331
Compound interest for three years =Amount (after 3 years) - (initial)Principal
=Rs.1331−Rs.1000=Rs.331