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A sum of Rs 25,000 is invested for 3 years at 20% per annum compound interest compounded annually. Calculate the interest for the third year.Answer VerifiedHint: Calculate the compound interest for the first year, then for the second year and finally for the third year. Since the interest is compounded annually, the interest at the end of each year will be added to the total amount over which the interest will be calculated for the next year. Use $S.I=\dfrac{P\times r\times t}{100}$. Complete step-by-step answer: When interest on a certain sum is compounded annually, the interest at the end of each year is added to the total amount
over which the interest is calculated for the next year. Note: Alternatively we know for a sum compounded annually
Post your comments here:Name *: Email : (optional) » Your comments will be displayed only after manual approval. What will be the compound interest on 25000 after 3 years at 12 per annum?(1+12100)3=25000(2825×2825×2825)=35123.20.
What will be the compound interest on a sum of Rs 25000 after 3 years at the rate of?25,000 after 3 years at the rate of 12 p.c.p.a? = Rs. 35123.20.
What is the compound interest on Rs 25000?Detailed Solution. ∴ The compound interest for the given principal is Rs. 5,250.
What would be the compound interest on a principal of Rs 10000 interest rate 12% for 3 years assuming interest is compounded every month?1,664. ∴ The compound interest is Rs. 1,664.
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