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.




question of compound interest....​

Answer 1

Answer:

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