Kindly Answer No 7 Q 7 Aryman invested Rs 10000 in a company He would be paid - Maths - Exponents and Powers

Question

Kindly Answer No 7
Q 7 Aryman invested Rs 10000 in a company He would be paid interest
at 7 % per annum compounded annually Find
(i) the amount received by him at the end of 2 years
(ii) the interest for the 3rd year

Abhishek Kr. Jha · Accepted Answer

Dear student,
Here is the solution of your asked query:
Here, Principal, P=Rs
10000Rate of interest, R=7% per annum(i) For T=2 years, we have;Amount =P1+R100T               =100001+71002               =10000×1071002               =10000×107100×107100               =11449Therefore, amount at end of 2 years is Rs
11449(ii) The interest for the next one year, i
e
 the third year, has to be calculated
By taking Rs
11449 as principal, the S I
 for the next year will be calculatedS
I =11449×7×1100=801
43Therefore, interest for third year is Rs
801 43
Regards

Kindly Answer No.7 Q.7. Aryman invested Rs. 10000 in a company. He would be paid interest at 7 % per annum compounded annually. Find (i) the amount received by him at the end of 2 years. (ii) the interest for the 3rd year.

Kindly Answer No.7
Q.7. Aryman invested Rs. 10000 in a company. He would be paid interest at 7 % per annum compounded annually. Find
(i) the amount received by him at the end of 2 years.
(ii) the interest for the 3rd year.