Ramesh invests 12800 for three years at the rate of 10 per annum compound interest i the sum due to ...

Question

Ramesh invests 12800 for three years at the rate of 10 per annum compound interest i the sum due to Ramesh at the end of the first year ii the interest he earns for the second year iii the total amount due to him at the end of three years

Accepted Answer

It is given that Principal 12800 Rate of interest 10 pa i We know that Interest for the first year 12800 10 1 100 1280 So the sum due at the end of the first year 12800 1280 14080 ii Principal for second year 14080 So the interest for the second year 14080 10 1 100 1408 iii We know that The sum due at the end of the second year 14080 1408 15488 Here Principal for the third year 15488 Interest for the third year 15488 10 1 100 154880 So the total amount due to him at the end of the third year 15488 154880 1703680

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