Question

8. 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

Step-by-step explanation:

Ans1- 14%of 56000=7840

Ans2- amount for 1st yr=56000+7840=63840

Ans3- second year ci=7840+1097.6=8937.6

Answer 2

Answer:

hey mate must note this is only Part 3 answer........

Hope it helps u

Step-by-step explanation:

For the first year: 

P= Rs. 5,600, N=1 year and R=14%

We have S.I. =100PNR=1005,600×1×14= 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, N=1 year and R=14%

We have S.I.=100PNR=1006,384×1×14= Rs. 893.76

To the nearest rupee, it is Rs. 894.