## Calculate the compound interest for the second year on * 12,000 invested for 3 years at 10% per year. Also, find the sum due at th

Question

Lost your password? Please enter your email address. You will receive a link and will create a new password via email.

## Answers ( )

Calculate the compound interest for the second

year on * 12,000 invested for 3 years at 10%

per year. Also, find the sum due at the end of

the third year.

✍︎Principal=12000

✍︎Rate=10%

✍︎Time=3 years

Lets understand

☞︎︎︎The money given to the borrower is called Principal.

☞︎︎︎the extra money given to the lender by borrower is called interest.

☞︎︎︎the money given to borrower for a specified time is called Time.

lets learn the formula for calculacting amount for CI(compound interest).

A=Amount

P=Principal

r=rate

n=time

lets solve the formula

100 will be simplified by 10

so

now lets evaluate the formula

all zeroes of 10s will be divided by 12,000

there is no value of 1 in the formula so

we can write formula as

now lets evavulate

lets find out CI(compound interest)

CI=A-P

CI=15972-12000

=3972

The amount is 15972 so the sum due at the end of third year will be 15,972.

____________________________________

Given :To find :Solution :Tofindthecompoundinterestforsecondyear:Where :-

Thus, the amount for second year is Rs 15972.

And we know that Compound Interest is the difference of the amount and the principal.

→ CI = A – P

→ CI = 15792 – 12000

→ CI = 3792

Hence, the compound interest for second year is Rs.3792

ToFindthesumattheendofthird:We know that the amount for the second year is equal to the principal for the third year, hence the sum of money at the end of third year is 15972.