ICSE Guess > ICSE/ISC eBooks > Class X > Maths by Mr. M. P. Keshari

ICSE / ISC eBooks

Example – 1. A man invests Rs. 46,875 at 4% per annum compound interest for 3 years. Calculate

1. The interest for the 1st year.
2. The amount standing to his credit at the end of 2nd year.
3. The interest for the third year.

Solution : P = Rs. 46875, T = 3 years, R = 4%

(i) Interest for the first year

(ii) Principal for the second year
= Amount after one year

Interest for the second year

(iii) Principal for the second year = Rs. 50,700

Interest for third year = Rs. 50,700 X 4 X 1/100

          = Rs. 2028