Question

3. A man invests 10000 for 3 years at a certain rate of interest, compounded annually. At the
end of one year, it amounts to 11200. Calculate :
(i) the rate of interest per annum;
(ii) the interest accrued in the second year;
(iii) the amount at the end of the third year.
​

Answer 1

Step-by-step explanation:

Principle = Rs 10000, After 1 year amount = Rs 11200 so interest after 1 year = Rs 1200

Amount = P(1+R/100)T

11200 = 10000(1+R/100)1

R = 12%

Interest for second year = 11200(1+12/100)1 - 11200 = Rs 1344

Amount after 3 year = 10000(1+12/100)3 = Rs 14049.28

4.1

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