Question

a man invest 10000 rupees for 3 yearat a certain rate of interest, compounded annually. at the end of one year, it amounts to 11200 rupees. calculate: 1. the rate of interest per annum 2. the interest accrued in the second year 3. the amount at the ends of the third year.

Answer 1

1. the rate of interest per annum is 4percent
2.8 percent
3.200000