if the compound interest for the third year is 1000 on a certain sum at the rate of 10% of p.a.​

1 thought on “if the compound interest for the third year is 1000 on a certain sum at the rate of 10% of p.a.​”

1. Answer:

   P= Rs. 1000,

   R=10%, p.a.

   T=3 years

   Interest for the 1st year

   =

   100

   P×R×T

   =

   100

   1000×1×10

   =Rs.100

   Amount after the 1st year = Principal for the 2nd year =1000+100=Rs.1100

   Interest after 2nd year =

   100

   1100×1×10

   =Rs.110

   Amount after the 2nd year =Principal ( for the 3rd year) =1100+110=Rs.1210

   Interest for the 3rd year =

   100

   1210×1×10

   =Rs.121

   Amount after the 3rd year =1210+121=Rs.1331

   Compound interest for three years =Amount (after 3 years) – (initial)Principal

   =Rs.1331−Rs.1000=Rs.331

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