Ramesh invest 12800 for three years at the rate of 10% per annum compound interest find the total amount due - Maths - Compound Interest

Question

Ramesh invest 12800 for three years at the rate of 10% per annum
compound interest find the total amount due to him at the end of
3rd year

Bakul Biswas · Accepted Answer

Dear Student, Principal = Rs 12800 Rate of interest = 10% per annum $Welknow, A = P (1 + \frac{R}{100})^{t}$ Sum due to Ramesh at the end of the Ist year $= 12800 {(1 + \frac{10}{100})}^{1}$ = 12800 (1 1) = Rs 14080 Sum due to Ramesh at the end of the 2nd year $= 12800 {(1 + \frac{10}{100})}^{2}$ = 12800 (1 1)2 = Rs 15488 So, interest earned by Ramesh for the second year = 15488 – 14080 = Rs 1408 Total amount received by Ramesh at the end of the third year $= 12800 {(1 + \frac{10}{100})}^{3}$ = 12800 (1 1)3 = Rs 17036 8 Hope this information will clear your doubts about topic If you have any more doubts just ask here on the forum and our experts will try to help you out as soon as possible Regards

Ramesh invest 12800 for three years at the rate of 10% per annum compound interest find the total amount due to him at the end of 3rd year