## 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

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 2021-08-19T05:06:17+00:00 2 Answers 0 views 0

Sum is equal to 11000.

2. 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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