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Robin deposited Rs. 1000 for 2 years at the interest rate of 10% per annum compounded annually. |
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Answer» -step explanation:AnswerP= Rs. 1000, R=10%, p.a.T=3 yearsInterest for the 1st year= 100P×R×T = 1001000×1×10 =Rs.100Amount after the 1st year = PRINCIPAL for the 2nd year =1000+100=Rs.1100Interest after 2nd year = 1001100×1×10 =Rs.110Amount after the 2nd year =Principal ( for the 3RD year) =1100+110=Rs.1210Interest for the 3rd year = 1001210×1×10 =Rs.121Amount after the 3rd year =1210+121=Rs.1331Compound interest for three years =Amount (after 3 years) - (INITIAL)Principal=Rs.1331−Rs.1000=Rs.331 |
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