If a certain principal amounts to Rs 44000 at 5 percent p.a. over 2 years, how much will it amount to in 3 years at the same rate ?
@verma.kirti111: Very good! Keep posting!
Let the principle be Rs P.
Give, r = 5, n = 2 and A = Rs. 44000.
We know that, A = P + S.I.
∴ Rs. 44000 = Rs P +
⇒ Rs P + Rs = Rs 44000
Thus, the principal is Rs 40000.
Amount at the end of 3 years
= P + S.I.
= Rs 40000 +
= Rs 40000 + Rs 6000
= Rs 46000.
Thus, the amount at the end of 3 years is Rs 46000.