A man invest 1200 for 2 years at compound interest after one year the money amount to 1275 find the interest for 2nd year correct to the nearest rupee
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Answer:
Principal amount = 1200₹
amount after 1 year = 1275 ₹
Interest = 1275-1200 = 75₹
Rate of interest = si x 100/ P x T
= 75x 100/ 1200 x 1
= 25/4 %
interest for second year on 1275 ₹
= 25/4% = p x r x t / 100
= 1275 x 25 x 1 / 100 x4
1275 /16 = 79.70 ₹
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