Question

3. A man invests 5,600 at 14% per annum
compound interest for 2 years. Calculate :
(i) the interest for the first year.
(ii) the amount at the end of the first year.
(iii) the interest for the second year, correct to
the nearest rupee.​

Answer 1

Answer:

5600 x 14 x 2 /100. your answer is come

Answer 2

Answer:

Step-by-step explanation:

For the first year:

P= Rs. 5,600, T=1 year and R=14%

We have S.I. = PTR/100

=5,600×1×14/100

​

= Rs. 784

And Amount at the end of first year P+S.I.= Rs. 5,600+ Rs. 784= Rs. 6,384

Now, for the second year :

P= Rs. 6,384, T=1 year and R=14%

We have S.I.= PTR/100

=6,384×1×14/100

​= Rs. 893.76

And to the nearest rupee, it is Rs. 894.

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