a man invested Rs 46875 at 4% per annum compound interest for 3 years calculate the amount standing to his credit at the end of the second year plzz explain
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a man invested Rs 46875 at 4% per annum compound interest for 3 years calculate the amount standing to his credit at the end of the second year plzz explain
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Answer:
7500
Step-by-step explanation:
Interest=4÷100×46876=1875.
Since, the interest on 1 year is rs. 1875.
Therefore, the interest on 4 years = 1875×4=7500.
Given :- Aman invests ₹46875 at 4% per annum compound interest for 3 years.
Calculate :-
(i) the interest for the first year.
(ii) the amount standing to his credit at the end of the second year.
(iii) the interest for the third year.
Solution :-
Principal = ₹46875
Rate = 4% per annum compounded annually.
Time = 3 years.
we know that,
for first year CI and SI both are same.
SI = (P * R * T) / 100 .
so,
→ The interest for the first year = (46875 * 4 * 1)/100 = ₹1875 (Ans.i)
Now,
→ Amount after the first year = Principal for the second year = P + SI = 46875 + 1875 = ₹48750 .
So,
→ SI for second year = (48750 * 4 * 1)/100 = ₹1950 .
then,
→ Amount at the end of second year = Principal for the second year + SI for second year = 48750 + 1950 = ₹50700 (Ans.ii)
therefore,
→ Principal for third year = Amount at the end of second year = ₹50700
hence,
→ The interest for the third year = (50700 * 4 * 1)/100= ₹2028 (Ans.iii)
Learn more :-
CI in 2yr is Rs. 1600 and in 3 yrs it will be Rs. 1700. Find the rate of interest.
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