A man invests 46875 at 4 per annum compound interest for 3 years Calculate i the amount standing to...

Question

A man invests 46875 at 4 per annum compound interest for 3 years Calculate i the amount standing to his credit at the end of the second year ii the interest for the third year iii the interest for the first year

Accepted Answer

It is given that Principal 46875 Rate of interest 4 pa i Interest for the first year Prt100 Substituting the values 46875 4 1 100 1875 So the amount after the first year or principal for the second year 46875 1875 48750 Here Interest for the second year 48750 4 1 100 So we get 1950 ii We know that The amount at the end of the second year 48750 1950 50700 iii Interest for the third year 50700 4 1 100 2028

ML Aggarwal Solutions Class 9 Mathematics Solutions for Compound Interest Exercise 2.1 in Chapter 2 - Compound Interest