A person invests a sum of money in a bank at a certain rate of interest. The interest earned at the end of the second and third years are Rs. 7,200 and Rs. 8,640, respectively. If the interest is compounded annually, find the interest earned at the end of the fourth year.
ATQ,
In compound interest, the difference between interests earned in two consecutive years is the interest earned on the interest of the previous year. So, the difference between interest earned in the second and third years: = 8,640 - 7,200 = Rs. 1,440 So, rate of interest = (1,440/7,200) × 100 = 20% Therefore, interest earned in the fourth year = 8,640 × 1.2 = Rs.10,368
What is the percentage of Scheduled Tribes in the Total Population of Uttar Pradesh?
Which organization did REC Limited sign an MoU with to finance infrastructure projects?
On which day was Mahatma Buddha born and attained Nirvana?
______ company is all set to acquire Danske Bank’s IT centre in India?
Which dance form was introduced by Mahapurusha Sankaradeva in the 15th century AD?
First Mineral Policy of Uttar Pradesh was declared on ........?
Which article of the Indian Constitution deals with the amendment process?
What is the chemical formula for ozone?
Which festival marks the beginning of the Hindu New Year in Uttar Pradesh?
Which planet is known as the 'Red Planet' due to its iron oxide-rich rocks?
