Question

A sum of $\text{Rs.}9600$ is invested for $3$ years at $10\%$ per annum at compound interest, then what is the sum due at the end of the first year?

Answer 1

Given :

$P=\text{Rs.}9600$

$R=10$

$T=1\text{year}$

$A=P{(1+\frac{R}{100})}^T$

$A=9600(1+\frac{10}{100})$

$A=\text{Rs.}9696$

Amount due after first year$=\text{Rs.}9696$