Question

Hence, write down the compound interest for the third year.

• A. Rs. 3268.66
• B. Rs. 1161.60
• C. Rs. 4236.66
• D. None of these

Answer 1

The correct option is B Rs. 1161.60

C.I. for the 3rd year $=$ C.I. of the 2nd year + Int. on it for 1 yr.
$=Rs.1,056+Rs.105.60$
$=Rs.1,161.60$ Ans.