हिंदी

Neena'S Savings Increases by Rs 1,000 Every Year. If She Saves Rs 4,000 in the First Year and Invests It at 15% Compound Interest, Find Her Total Savings at the End of the Third Year.

Advertisements
Advertisements

प्रश्न

Neena's savings increases by Rs 1,000 every year. If she saves Rs 4,000 in the first year and invests it at 15% compound interest, find her total savings at the end of the third year.

योग
Advertisements

उत्तर

P =Rs. 4,000 ; R = 15% p.a. ; T = 3 years 

Interest for the 1st year 

`= "Rs"  (4000 xx 15 xx 1)/100`

= Rs 600

Principal for the second year

= Amount at the end of one year + her new savings

= Rs. 4,000 + Rs. 600 +Rs. 5,000 =Rs. 9,600 

Interest for the seoond year 

`= ("Rs"  9600 xx 15 xx 1)/100`

= Rs 1, 440 

Compound interest for seoond year =Rs. 1,440 

Principal for the third year

= Amount at the end of two years + her new savings

=Rs. 9,600 +Rs. 1,440 +Rs. 6000 =Rs. 17.040 

Interest for the third year 

`= "Rs"  (17040 xx 15 xx 1)/100`

= Rs 2,556 

Sum due at the end of third year = her savings at the end of third year

= Rs. 17,040 +Rs. 2,556 =Rs 19,596 

shaalaa.com
Concept of Compound Interest - Compound Interest as a Repeated Simple Interest Computation with a Growing Principal
  क्या इस प्रश्न या उत्तर में कोई त्रुटि है?
Share
Notifications

Englishहिंदीमराठी


      Forgot password?
Use app×