Question

Ramesh invests Rs.$12800$ for three years at the rate of $10\%$ per annum compound interest.

Find :

• A. The sum due to Ramesh at the end of the first year.
• B. The interest he earns for the second year.
• C. The total amount due to him at the end of the third year.
• D. None of these

Answer 1

Answer: (A), (B), (C)

The correct options are
A The sum due to Ramesh at the end of the first year.
B The interest he earns for the second year.
C The total amount due to him at the end of the third year.

Principal$=$Rs$12,800$,Rate$=10\%$

Interest for one year$=\frac{PRT}{100}=\frac{12800\times 10\times 1}{100}=Rs.1280$

$\left(i\right)$Sum due after one year $=12,800+1,280=$ Rs. $14,080$

$\left(ii\right)$Interest for second year$=\frac{14080\times 10\times 1}{100}=$Rs.$1408$

Amount after $2^{nd}$ year $=$ Rs. $14,080+$ Rs. $1,408=$ Rs. $15,488.$

Interest for $3^{rd}$year $=\frac{15,488\times 10\times 1}{100}=1548.80$

$\left(iii\right)$ The amount due after $3$ year $=15,488+1,548.80=Rs.17,036.80$