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Compound Interest Using Formula Concise ICSE Class-9th

Chapter/ Lesson / Exercise -3 Compound Interest (Using Formula) Selina Mathematics Solutions

Compound Interest Using Formula Concise ICSE Class-9th Mathematics Selina solutions Chapter-3 . We provide step by step Solutions of Exercise / lesson-3 Compound Interest (Using Formula)   for ICSE Class-9 Concise Selina Mathematics by RK Bansal.

Our Solutions contain all type Questions with Exe-3 A, Exe-3 B, Exe-3 C, Exe-3 D and Exe-3 E to develop skill and confidence. Visit official Website CISCE for detail information about ICSE Board Class-9 Mathematics .

Compound Interest Using Formula Concise ICSE Class-9th Mathematics Selina solutions Chapter-3


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Concept Part-1

Concept Part-2

Exe-3 A,

Exe-3 B,

Exe-3 C,

Exe-3 D,

Exe-3 E,

 


Exercise – 3(A) Compound Interest (Using Formula) Concise Selina Mathematics ICSE Class-9th 

Question 1

Find the amount and the compound interest on Rs. 12,000 in 3 years at 5% compounded annually.

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Answer

Given : P= Rs. 12,000; n = 3 years and r = 5%

Ans 1 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

= Rs. 13,891.50

C.I. = Rs. 13,891.50 – Rs. 12,000 = Rs. 1,891.50.

Question 2

Calculate the amount of Rs. 15,000 is lent at compound interest for 2 years and the rates for the successive years are 8% and 10% respectively.

Answer

Given : P = Rs. 15,000; n = 2 years;  r1 = 8 % and r2 = 10%

Ans 2 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

              = Rs. 17,820.

Answer 

Given : P = Rs. 6,000; n = 3 years; r= 5%; r= 8% and r3 = 10%

Ans 3 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

= Rs. 7,484.40
∴ C.I. = Rs. 7,484.40 – Rs. 6,000 = Rs. 1,484.40.

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Answer 

Given : P= Rs. 5,445 ; n = 2 years and r = 10%

Ans 4 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

⇒ Rs. 4,500

Answer 

Given : C.I.= Rs. 768.75; n= 2 years and r = 5%

Ans 5 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

Answer 

Given : C.I. = Rs. 1,655; n = 3 years and r = 10%

Ans 6 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

Answer 

Given : A = Rs. 9,856 ; n = 2 years ;  r1 = 10 % and r2 = 12%

Ans 7 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

Question 8

Answer 

Ans 8 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

⇒ ( P + 4240 ) = P(1.265)

⇒ P = Rs. 16000

The sum is Rs.16,000.

Answer 

Ans 9 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

At 5% per annum the sum of Rs. 6,000 amounts to Rs. 6,615 in 2 years when the interest is compounded annually.

Answer 

Let Principal = Rs. y
Then Amount= Rs 1.44y
n= 2 years

Ans 10 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

On solving, we get
r = 20 %

Answer 

Given : P = Rs. 4,000, C.I. = Rs. 1,324 and n = 3 years
Now, A = P + I
⇒ A = Rs. ( 4,000 + 1,324 ) = Rs. 5,324

Ans 11 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

Thus, the rate of interest is 10%.

Answer 

Given: P = Rs. 5,000; A = Rs. 6,272 and n = 2 years.

Ans 12 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

= Rs. 7,024.64

Answer 

Given : P = Rs. 7,000; A = Rs. 9,317 and r = 10%.

Ans 13 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

On comparing,
n = 3 years

Answer 

Given : P= Rs. 4,000; C.I.= Rs. 630.50 and r = 5%

Ans 14 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

On comparing,

n = 3 years

Answer  

Let share of A = Rs. y
share of B = Rs (28,730 – y)
rate of interest= 10%

According to question,
Amount of A in 3 years= Amount of B in 5 years

Ans 15 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

Therefore share of A = Rs. 15,730

Share of B = Rs. 28,730 – Rs.15,730 = Rs. 13,000

Answer 

(i) Let share of John = Rs y
share of Smith = Rs (44,200 – y)
rate of interest= 10%

According to question,
Amount of John in 4 years = Amount of Smith in 2 years

Ans 16 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

= Rs. 29,282

Answer 

(i) I = Rs. 6,000, T = 2 years and R = 10%

Ans 17 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

= Rs. 39,930

(iii) C.I. earned in 3 years = A – P = Rs. (39,930 – 30,000) = Rs. 930.

Question 18

Find the difference between compound interest and simple interest on Rs. 8,000 in 2 years and at 5% per annum.

Answer

Given : P = Rs. 8,000, R = 5%, T = 2 years
For simple interest,

Ans 18 Exercise - 3(A) Compound Interest (Using Formula) ICSE Class-9th Concise

C.I. = A – P
= Rs. (8,820 – 8,000)
= Rs. 820

Now, C.I. – S.I. = Rs. ( 820 – 800 ) = Rs. 20.
Thus, the difference between the compound interest and the simple interest is Rs. 20.


Compound Interest (Using Formula) Exe-3 B, Concise Selina Mathematics ICSE Class-9th  

Question 1

The difference between simple interest and compound interest on a certain sum is Rs. 54.40 for 2 years at 8 per cent per annum. Find the sum.

Answer 

Let principal (P) = x
R = 8%
T = 2 years

 

Ans 1 Exercise - 3(B) Compound Interest (Using Formula) ICSE Class-9th Concise 

X = Rs. 8500
Thus, principal sum = Rs. 8500

Question 2

A sum of money, invested at compound interest, amounts to Rs. 19,360 in 2 years and to Rs. 23,425.60 in 4 years. Find the rate per cent and the original sum of money.

Answer 

(for 2 years) A = Rs. 19360
T = 2 years
Let P = X

Ans 2 Exercise - 3(B) Compound Interest (Using Formula) ICSE Class-9th Concise 

X = Rs. 16,000

Thus, sum = Rs. 16000

Question 3

A sum of money lent out at C.I. at a certain rate per annum becomes three times of itself in 8 years. Find in how many years will the money becomes twenty-seven times of itself at the same rate of interest p.a.

Answer 

Let principal = X, A = 3X, T = 8 years, R = ?

Case I,

Ans 3 Exercise - 3(B) Compound Interest (Using Formula) ICSE Class-9th Concise

T = 24

Time = 24 years.

Question 4

On what sum of money will compound interest (payable annually) for 2 years be the same as simple interest on Rs. 9,430 for 10 years, both at the rate of 5 per cent per annum ?

Answer 

P = Rs. 9430
R = 5%
T = 10 years

Ans 4 Exercise - 3(B) Compound Interest (Using Formula) ICSE Class-9th Concise

Thus principal from = Rs. 46,000

Question 5

Kamal and Anand each lent the same sum of money for 2 years at 5% at simple interest and compound interst respectively. Anand recived Rs. 15 more than Kamal. Find the amount of money lent by each and the interest received.

Answer 

Let principal = Rs. 100, R = 5% T = 2 years

Ans 5 Exercise - 3(B) Compound Interest (Using Formula) ICSE Class-9th Concise

= Rs. 615

Question 6

Simple interest on a sum of money for 2 years at 4% is Rs. 450. Find compound interest of the same sum and at the same rate for 2 years.

Answer 

SI = Rs. 450
R = 4%
T = 2 years
P = ?

Ans 6 Exercise - 3(B) Compound Interest (Using Formula) ICSE Class-9th Concise

CI = A – P = 6084 – 5625 = Rs. 459

Question 7

Simple interest on a certain sum of money for 4 years at 4% per annum exceeds the compound interest on the same sum for 3 years at 5 per cent per annum by Rs. 228. Find the sum.

Answer 

Let principal (P), R = 4%, T = 4 years

Ans 7 Exercise - 3(B) Compound Interest (Using Formula) ICSE Class-9th Concise

P = Rs. 96000

Thus, Principal = Rs. 96000

Question 8

Compound interest on a certain sum of money at 5% per annum for two years is Rs. 246. Calculate simple interest on the same sum for 3 years at 6% per annum.

Answer 

CI = Rs. 246, R = 5%, T = 2 years

CI = A – P

Ans 8 Exercise - 3(B) Compound Interest (Using Formula) ICSE Class-9th Concise

Question 9

A certain sum of money amounts to Rs. 23,400 in 3 years at 10% per annum simple interest. Find the amount of the same sum in 2 years and at 10% p.a. compound interest.

Answer 

Let the sum (principle) = X
Given Amount = 23400, R = 10% and T = 3 years

Ans 9 Exercise - 3(B) Compound Interest (Using Formula) ICSE Class-9th Concise

A = 21780

The amount of the same sum in 2 years and at 10% p.a. compound interest is 21780.

 Question 10

Mohit borrowed a certain sum at 5% per annum compound interest and cleared this loan by paying Rs. 12,600 at the end of the first year and Rs. 17,640 at the end of the second year. Find the sum borrowed.

Answer 

For the payment of Rs. 12,600 at the end of first year :
A = Rs. 12,600; n = 1 year and r = 5%

Ans 10 Exercise - 3(B) Compound Interest (Using Formula) ICSE Class-9th Concise

∴ Sum borrowed = Rs. (12,000 + 16,000 ) = Rs. 28,000.


Concise Selina Mathematics ICSE Class-9th Exe-3 C, Compound Interest (Using Formula)

 Question 1

If the interest is compounded half-yearly, calculate the amount when principal is Rs. 7,400; the rate of interest is 5% per annum and the duration is one year.

Answer 

Given: P = Rs. 7,400; r = 5% p.a. and n = 1 year

Since the interest is compounded half-yearly,

Ans 1 Exercise - 3(C) Compound Interest (Using Formula) ICSE Class-9th Concise

= Rs. 7,774.63

Question 2

Find the difference between the compound interest compounded yearly and half-yearly on Rs. 10,000 for 18 months at 10% per annum.

Answer 

(i) When interest is compounded yearly :
Given : P = Rs. 10,000 ; n = 18 months =  year and r = 10% p.a.
For 1 year

Ans 2 Exercise - 3(C) Compound Interest (Using Formula) ICSE Class-9th Concise 

= Rs. 11,576.25

C.I.= Rs.11,576.25 – Rs.10,000 = Rs. 1,576.25

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Difference between both C.I. = Rs. 1,576.25 – Rs. 1,550 = Rs. 26.25

Question 3

A man borrowed Rs.16,000 for 3 years under the following terms:
20% simple interest for the first 2 years.
20% C.I. for the remaining one year on the amount due after 2 years, the interest being compounded half-yearly.
Find the total amount to be paid at the end of the three years.

Answer 

For the first 2 years

Ans 3 Exercise - 3(C) Compound Interest (Using Formula) ICSE Class-9th Concise

⇒ A = 27,104

The total amount to be paid at the end of the three years is Rs. 27,104.

Question 4

What sum of money will amount to Rs. 27,783 in one and a half years at 10% per annum compounded half yearly ?

Answer 

Ans 4 Exercise - 3(C) Compound Interest (Using Formula) ICSE Class-9th Concise 

⇒ P = 24,000

The sum of Rs. 24,000 amount Rs. 27,783 in one and a half years at 10% per annum compounded half yearly.

Question 5

Ashok invests a certain sum of money at 20% per annum, compounded yearly. Geeta invests an equal amount of money at the same rate of interest per annum compounded half-yearly. If Geeta gets Rs. 33 more than Ashok in 18 months, calculate the money invested.

Answer 

(i) For Ashok (interest is compounded yearly) : 

Let P = Rs. y; n = 18 months =  year and r = 20% p.a.

For 1 year

Ans 5 Exercise - 3(C) Compound Interest (Using Formula) ICSE Class-9th Concise

Money invested by each person=Rs. 3,000.

Question 6

At what rate of interest per annum will a sum of Rs. 62,500 earn a compound interest of Rs. 5,100 in one year? The interest is to be compounded half yearly.

Answer 

Ans 6 Exercise - 3(C) Compound Interest (Using Formula) ICSE Class-9th Concise

⇒ r = 8

The rate of interest is 8%.

Question 7

In what time will Rs. 1,500 yield Rs. 496.50 as compound interest at 20% per year compounded half-yearly ?

Answer 

Given: P=Rs. 1,500; C.I.= Rs. 496.50 and r = 20%
Since interest is compounded semi-annually

Ans 7 Exercise - 3(C) Compound Interest (Using Formula) ICSE Class-9th Concise

 Question 8

Calculate the C.I. on Rs. 3,500 at 6% per annum for 3 years, the interest being compounded half-yearly.
Do not use mathematical tables. Use the necessary information from the following:
(1.06)3 =1.191016; (1.03)3 = 1.092727
(1.06)6 =1.418519; (1.03)6 = 1.194052

Answer 

Given : P = Rs. 3,500; r = 6% and n = 3 years

Since interest is being compounded half-yearly

Ans 8 Exercise - 3(C) Compound Interest (Using Formula) ICSE Class-9th Concise

= 3,500[(1.03)6 – 1 ]

= 3,500[ 1.194052 – 1 ]

= 3,500 x 0.194052

= Rs. 679.18

Question 9

Find the difference between compound interest and simple interest on Rs.12,000 and in   years at 10% compounded yearly.

Answer 

Ans 9 Exercise - 3(C) Compound Interest (Using Formula) ICSE Class-9th Concise

= Rs. 13,860

∴ C.I. = Rs. 13,860 – Rs. 12,000 = Rs. 1,860
∴Difference between C.I. and S.I.
= Rs. 1,860 – Rs. 1,800 = Rs. 60.

Question 10

Find the difference between compound interest and simple interest on Rs. 12,000 and in  years at 10% compounded half-yearly.

Answer 10

Ans 10 Exercise - 3(C) Compound Interest (Using Formula) ICSE Class-9th Concise

A = Rs. 13,891.50

C.I. = Rs. 13,891.50 – Rs. 12,000 = Rs. 1,891.50

∴ Difference between C.I. and S.I = Rs. 1,891.50 – Rs. 1,800 = Rs. 91.50.


EXERCISE- 3(D), Compound Interest (Using Formula)Selina solutions for ICSE Class -9th

Question 1

The cost of a machine is supposed to depreciate each year at 12% of its value at the beginning of the year. If the machine is valued at Rs. 44,000 at the beginning of 2008, find its value :
(i) at the end of 2009.
(ii) at the beginning of 2007.

Answer  

Cost of machine in 2008 = Rs. 44,000
Depreciation rate = 12%

(i)  ∴ Cost of machine at the end of 2009

Ans 1 Exercise - 3(D) Compound Interest (Using Formula) ICSE Class-9th Concise

Question 2

The value of an article decreases for two years at the rate of 10% per year and then in the third year it increases by 10%. Find the original value of the article, if its value at the end of 3 years is Rs. 40,095.

Answer  

Let X be the value of the article.

The value of an article decreases for two years at the rate of 10% per year.

The value of the article at the end of the 1st year is
X – 10% of X = 0.90X

The value of the article at the end of the 2nd year is
0.90X – 10% of (0.90X) = 0.81X

The value of the article increases in the 3rd year by 10%.

The value of the article at the end of 3rd  year is
0.81x + 10% of (0.81x) = 0.891x

The value of the article at the end of 3 years is Rs. 40,095.
0.891X = 40,095

⇒ X = 45,000
The original value of the article is Rs. 45,000.

Question 3

According to a census taken towards the end of the year 2009, the population of a rural town was found to be 64,000. The census authority also found that the population of this particular town had a growth of 5% per annum. In how many years after 2009 did the population of this town reach 74,088 ?

Answer  

Population in 2009 (P) = 64,000
Let after n years its population be 74,088(A)
Growth rate= 5% per annum

Ans 3 Exercise - 3(D) Compound Interest (Using Formula) ICSE Class-9th Concise

On comparing, we get,
n = 3 years

Question 4

The population of a town decreased by 12% during 1998 and then increased by 8% during 1999. Find the population of the town, at the beginning of 1998, if at the end of 1999 its population was 2,85,120.

Answer  

Let the population in the beginning of 1998 = P
The population at the end of 1999 = 2,85,120(A)
r1 = – 12% and r2 = + 8%

Ans 4 Exercise - 3(D) Compound Interest (Using Formula) ICSE Class-9th Concise

Question 5

A sum of money, invested at compound interest, amounts to Rs. 16,500 in 1 year and to Rs. 19,965 in 3 years. Find the rate per cent and the original sum of money invested.

Answer  

Let sum of money be Rs P and rate of interest = r %
Money after 1 year = Rs. 16,500
Money after 3 years = Rs. 19,965

For 1 year

Ans 5 Exercise - 3(D) Compound Interest (Using Formula) ICSE Class-9th Concise

Question 6

The difference between C.I. and S.I. on Rs. 7,500 for two years is Rs. 12 at the same rate of interest per annum. Find the rate of interest.

Answer  

Given : P = Rs. 7,500 and Time(n) = 2 years
Let rate of interest = y%

Ans 6 Exercise - 3(D) Compound Interest (Using Formula) ICSE Class-9th Concise

⇒ y2 = 16
⇒ y = 4 %

Question 7

A sum of money lent out at C.I. at a certain rate per annum becomes three times of itself in 10 years. Find in how many years will the money become twenty-seven times of itself at the same rate of interest p.a.

Answer  

Let Principal be Rs y and rate= r%
According to 1st condition
Amount in 10 years = Rs 3

Ans 7 Exercise - 3(D) Compound Interest (Using Formula) ICSE Class-9th Concise

On comparing, we get
n = 10 x 3 = 30 years

Question 8

Mr. Sharma borrowed a certain sum of money at 10% per annum compounded annually. If by paying Rs.19,360 at the end of the second year and Rs. 31,944 at the end of the third year he clears the debt; find the sum borrowed by him.

Answer  

At the end of the two years the amount is

Ans 8 Exercise - 3(D) Compound Interest (Using Formula) ICSE Class-9th Concise

⇒  P = Rs. 40,000

Mr. Sharma borrowed Rs. 40,000.

Question 9

The difference between compound interest for a year payable half-yearly and simple interest on a certain sum of money lent out at 10% for a year is Rs. 15. Find the sum of money lent out.

Answer  

Let sum of money be Rs. y
To calculate S.I.

Ans 9 Exercise - 3(D) Compound Interest (Using Formula) ICSE Class-9th Concise

⇒ `y/400 = 15 ⇒ y = Rs. 6,000.

Question 10

The ages of Pramod and Rohit are 16 years and 18 years respectively. In what ratio must they invest money at 5% p.a. compounded yearly so that both get the same sum on attaining the age of 25 years?

Answer  

Let Rs.X and Rs.Y be the money invested by Pramod and Rohit respectively such that they will get the same sum on attaining the age of 25 years.
Pramod will attain the age of 25 years  after 25 – 16 = 9 years
Rohit will attain the age of 25 years  after 25 -18 = 7 years

Ans 10 Exercise - 3(D) Compound Interest (Using Formula) ICSE Class-9th Concise

Pramod and Rohit should invest in 400 : 441 ratio respectively such that they will get the same sum on attaining the age of 25 years.


Exercise  – 3(E)

Simple interest on a sum of money for 2 years at 4% is Rs .450. Find compound interest on the same sum and at the same rate for 1 year, if the interest is reckoned half yearly.

Answer  

1st case
Given :  S.I. = Rs 450 ; Time = 2 years and Rate = 4%

Ans 1 Exercise - 3(E) Compound Interest (Using Formula) ICSE Class-9th Concise

= Rs. 5852.25

∴ C.I. = 5,852.25 – 5,625 = Rs. 227.25

Question 2

Find the compound interest to the nearest rupee on Rs. 10,800 for  years at 10% per annum.

Answer  

Given : P = Rs. 10,800 ; Time =  years and Rate = 10% p.a.

For 2 years

Ans 2 Exercise - 3(E) Compound Interest (Using Formula) ICSE Class-9th Concise

∴ Rs.13,721 – Rs.10,800 = Rs.2,921

Question 3

The value of a machine, purchased two years ago, depreciates at the annual rate of 10%. If its present value is Rs.97,200, find:

  1.   Its value after 2 years.
  2.   Its value when it was purchased.

Answer  

(i) Present value of machine(P) =  Rs.97,200
Depreciation rate = 10%

Ans 3 Exercise - 3(E) Compound Interest (Using Formula) ICSE Class-9th Concise

 

Question 4

Anuj and Rajesh each lent the same sum of money for 2 years at 8% simple interest and compound interest respectively. Rajesh received Rs. 64 more than Anuj. Find the money lent by each and interest received.

Answer  

Let the sum of money lent by both Rs. y
For Anuj
P = Rs.y ; rate = 8% and time = 2 years

Ans 4 Exercise - 3(E) Compound Interest (Using Formula) ICSE Class-9th Concise

Question 5

Calculate the sum of money on which the compound interest (payable annually) for 2 years be four times the simple interest on Rs. 4,715 for 5 years, both at the rate of 5% per annum.

Answer  

Given : Principal = Rs.4,715; time = 5 years and rate= 5% p.a.

Ans 5 Exercise - 3(E) Compound Interest (Using Formula) ICSE Class-9th Concise

Question 6

A sum of money was invested for 3 years, interest being compounded annually. The rates for successive years were 10%, 15% and 18% respectively. If the compound interest for the second year amounted to Rs. 4,950, find the sum invested.

Answer  

Given : C.I. for the 2nd year = Rs. 4,950 and rate = 15%

 Ans 6 Exercise - 3(E) Compound Interest (Using Formula) ICSE Class-9th Concise

 

The sum invested is Rs.30,000.

Question 7 Compound Interest Using Formula

A sum of money is invested at 10% per annum compounded half yearly. If the difference of amounts at the end of 6 months and 12 months is Rs.189, find the sum of money invested.

Answer  

Let the sum of money be Rs. y
and rate = 10% p.a. compounded half yearly

Ans 7 Exercise - 3(E) Compound Interest (Using Formula) ICSE Class-9th Concise

y = 3600.

Question 8

Rohit borrows Rs. 86,000 from Arun for two years at 5% per annum simple interest. He immediately lends out this money to Akshay at 5% compound interest compounded annually for the same period. Calculate Rohit’s profit in the transaction at the end of two years.

Answer  

P = Rs. 86,000; time = 2 years and rate = 5% p.a.
To calculate S.I

Ans 8 Exercise - 3(E) Compound Interest (Using Formula) ICSE Class-9th Concise

Profit = C.I. – S.I. = Rs.8,815 – Rs.8,600 = Rs.215

Question 9

The simple interest on a certain sum of money for 3 years at 5% per annum is Rs.1,200. Find the amount and the compound interest due on this sum of money at the same rate and after 2 years. Interest is reckoned annually.

Answer  

Let Rs.X be the sum of money.
Rate = 5 % p.a. Simple interest = Rs.1,200, n = 3 years.

Ans 9 Exercise - 3(E) Compound Interest (Using Formula) ICSE Class-9th Concise

 

⇒ A = 8,000( 1.1025 )

⇒ A = 8,820

C.I. = A – P
⇒ C.I. = 8,820 – 8,000
⇒ C.I. = 820.
The amount due after 2 years is Rs. 8,820 and the compound interest is Rs. 820.

Question 10

Nikita invests Rs.6,000 for two years at a certain rate of interest compounded annually. At the end of first year it amounts to Rs.6,720. Calculate:
(a) The rate of interest.
(b) The amount at the end of the second year.

Answer  

Let X % be the rate of interest.
P = Rs. 6,000, n = 2 years, A = Rs.6,720
For the first year

Ans 10 Exercise - 3(E) Compound Interest (Using Formula) ICSE Class-9th Concise

⇒ A = 7,526.40
The amount at the end of the second year = Rs. 7,526.40

 End of Compound Interest Using Formula Solutions :–


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