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2. A sum of ₹ $65,000$ is invested for $3$ years at $8%$ p.a. compound interest. (i) Find the sum due at the end of the first year. (ii) Find the sum due at the end of the second year.
2. A sum of ₹ $65,000$ is invested for $3$ years at $8%$ p.a. compound interest. (i) Find the sum due at the end of the first year. (ii) Find the sum due at the end of the second year.
Class 10 | Compound Interest | Frank | ICSE | Maths
2. A sum of ₹ $65,000$ is invested for $3$ years at $8%$ p.a. compound interest. (i) Find the sum due at the end of the first year. (ii) Find the sum due at the end of the second year.

P = Principal

R = Rate

T = Time P = ₹ \[65,000\], r = \[8%\]p.a., t = \[3\] years

Solution:-

C1 = (P × r × t)\[/100\]

= \[\left( 65,000\times 8\times 1 \right)/100\]

= ₹ \[5,200\]

Then, P1 = \[5200+65000\]

= ₹ \[70,200\]

Solution:-

C2 = (P × r × t)\[/100\]

= \[\left( 70,200\times 8\times 1 \right)/100\]

= ₹ \[5,616\]

Then, P2 = \[70,200+5,616\]

= ₹ \[75,816\]

i

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