# A sum of rupees 9600 is invested for 3 years at 10% per annum compound interest . 1) Find the compound interest earned in the first two years . 2) Find the compound interest at the end of three years .

1
by qwartile

2014-11-17T19:51:15+05:30

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Compound interest after 1 year = same as simple interest =
= Rs 9, 600 * 10/100 * 1 = Rs 960

Compound interest earned during 2ng year = simple interest + interest on interest
= Rs 960 + Rs 960 * 10/100 * 1 = Rs 1,056
total compound interest earned in two years = Rs  2, 016

compound interest during 3rd year
= simple interest + interest on interest
= Rs 960 + Rs 1, 056 * 10/100 * 1
= Rs 1, 065.60

Total compound interest earned  in 3 years  = Rs 3, 081.60

You can also use the formula to find the sum and interest.