SOLUTION: If the compound interest for 2nd year is 250, find the compound interest for 3rd year, interest being 12% per annum.

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Question 1112125: If the compound interest for 2nd year is 250, find the compound interest for 3rd year, interest being 12% per annum.
Answer by mananth(16946) About Me  (Show Source):
You can put this solution on YOUR website!
CI of the 2nd year = Rs. 250
CI of the 3rd year will be = CI of 2nd year+ 12% interest on CI of 2nd year

CI of 3rd year = 250 + 250 × 0.12 = Rs. 280