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calculate the compound interest for second year on rupees 12000 invested for 3 years at 10% per year also find the sum due at the end of 3rd year |
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Answer» We have to calculate the compound interest for 2nd YEAR on Rs 12,000 invested for 3 years at 10 % per annum. Also find the SUM due at the END of 3rd years. Solution : compound interest for 2nd year = C.I for 2 years - C.I for 1 year = P(1 + r/100)² - P(1 + r/100)¹ = P(1 + r²/10000 + 2r/100 - 1 - r/100) = p(r²/10000 + r/100) = 12,000(100/10000 + 10/100) = 12,000(1/100 + 1/10) = 120 × 11 = 1320 Rs. Sum due at the end of 3rd year = compound interest in 3 years = P(1 + r/100)³ - P = 12000(1 + 10/1000)³ - P = 12000(11/10)³ - 12000 = 12 × 1331 - 12000 = 15972 - 12000 = 3972 Rs. at the end of 3rd year, they should pay 3972 Rs. |
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