Request a call back

Join NOW to get access to exclusive study material for best results

ICSE Class 9 Answered

mesh invests $12.800 for three years at the rate of 10% per annum compound interest. Find: (1)The sum due to Ramesh at the end of the first year (n) The interest he earns for the second year. The total amount due to him at the end of the third
Asked by krishnasangam2008 | 12 Apr, 2022, 05:24: PM
answered-by-expert Expert Answer
(i)
Interest for the first year = (12800 x 10 x 1)/100 = Rs. 1280
Sum due at the end of first year = 12800 + 1280 = Rs. 14080
 
(ii)
Principal for 2nd year = Rs. 14080
Interest for 2nd year = (14080 x 10 x 1)/100 = Rs. 1408
 
(iii)
Sum due at the end of second year = 14080 + 1408 = Rs. 15488
Principal for third year = Rs. 15488 
Interest for third year = (15488 x 10 x 1)/100 = Rs. 1548.8
So, the total amount due at the end of third year = 15488 + 1548.8 = Rs. 17036.8
Answered by Renu Varma | 13 Apr, 2022, 10:54: AM
ICSE 9 - Maths
Asked by Bt320042 | 04 Jul, 2021, 03:39: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by dhyeyshah98.9soc | 14 Jun, 2021, 12:06: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 9 - Maths
Ci
question image
Asked by aasthasinghvi233 | 05 Aug, 2020, 03:19: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by tripathiom167 | 24 Jun, 2020, 06:56: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
Get Latest Study Material for Academic year 24-25 Click here
×