Question

a) A man invests 8,000 for two years at a certain rate of interest, compounded annually.
At the end of one year it amounts to 8,800. Calculate:
the rate of interest per annum.
(ii) the interest accrued in the second year.
(iii) the amount at the end of the second year.
[3]​

Answer 1

P=Rs.8000

Amount after one year =Rs.9440

Interest for 1 year=9440−8000=Rs.1440

let rate of interest =R

C.I for one year=S.I for 1 year=

100

PRT

⇒1440=

100

8000×R×1

⇒R=

8000

1440×100

=18%

For second year

P=9440

R=18%

T=1 year

∴Amount=P(1+

100

R

)

T

⇒9440(1+

100

18

)

⇒9440×

100

118

=Rs.11139.20

Hence Amount at the end of second year =Rs.11139.20

Hope it's helpful mark me Brainliest and follow me