Question

 A man invest Rs. 3000 for 5 years at 7% p.a, compounded annually find interest for the first year​

Answer 1

Step-by-step explanation:

For ,

N=1years

P=Rs3,000

A=Rs3,240

=>S.I.=A−P=Rs240

We have S.I.=

100

PNR

=

100

3,000×1×R

=Rs240

=>R=8 %

And on interest being compounded for 3 years and R=8 %, Amount=P(1+

100

R

)

N

=3,000×(1+

100

8

)

3

=3,000×(1.083)=3,779.136 or Rs3,779

Answer 2

Answer:

210

Step-by-step explanation:

S I = p×r×t

______

100

= 3000 × 7 × 1

__________

100

= 21000

_____

100

= 210