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 second year?

Answer 1

Given :

Principal, $P=\text{Rs.}9600$

Rate, $R=10\%$

Time, $T=2$

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

$A=9600{(1+\frac{10}{100})}^2$

$A=\text{Rs.}11616$

Amount due after the second year$=\text{Rs.}11616$