## 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

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.​

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1 month 2021-08-19T06:18:59+00:00 2 Answers 0 views 0

1. 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).

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A=Amount

P=Principal

r=rate

n=time

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lets solve the formula

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100 will be simplified by 10

so

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now lets evaluate the formula

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

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there is no value of 1 in the formula so

we can write formula as

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now lets evavulate

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lets find out CI(compound interest)

CI=A-P

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CI=15972-12000

=3972

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

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2. ### Given :

• Principal = Rs. 12,000
• Time = 3 years
• Rate of interest = 10% p.a.

### To find :

• Compound interest for second year !
• The sum at the end of third year !

### Solution :

To find the compound interest for second year :

Where :-

• P = Principal
• R = Rate of interest
• n = Time period
• A = Amount

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

To Find the sum at the end of third :

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.