Compounded annually. Find7. Aryman invested P10000 in a company. He wo

1.	Compounded annually. Find7. Aryman invested P10000 in a company. He would be paid interest at 7% per annum(i) the amount received by him at the end of 2 years.(ii) the interest for the 3rd year.um compound
Answer» Step-by-step EXPLANATION: Given Investment to a company (P) = RS 10000 Rate of interest (R) = 7% p.a. Period (n) = 2 years Hence, Amount (A) = P {1 + (R / 100)} n = Rs 10000 {1 + (7 / 100)} 2 = Rs 10000 × (107 / 100) × (107 / 100) On simplification, we get, = Rs 11449 Amount after 3 rd year = Rs 11449 × (107 / 100) We get, = Rs 12250.43 Therefore, Interest on the 3 rd year = Rs 12250.43 – 11449 = Rs 801.43

Compounded annually. Find7. Aryman invested P10000 in a company. He would be paid interest at 7% per annum(i) the amount received by him at the end of 2 years.(ii) the interest for the 3rd year.um compound

Answer»

Step-by-step EXPLANATION:

Given

Investment to a company (P) = RS 10000

Rate of interest (R) = 7% p.a.

Period (n) = 2 years

Hence,

Amount (A) = P {1 + (R / 100)}

= Rs 10000 {1 + (7 / 100)}

= Rs 10000 × (107 / 100) × (107 / 100)

On simplification, we get,

= Rs 11449

Amount after 3

year = Rs 11449 × (107 / 100)

We get,

= Rs 12250.43

Therefore,

Interest on the 3

year = Rs 12250.43 – 11449

= Rs 801.43