Question

A man invested rupees 8000 for 3 years at simple interest rate of 8% p.a. he had invested the same sum for the same period to a compound interest rate of seven and half percent how much more would he have received after 3 years

Answer 1

Answer:

Mohit invests Rs. 8,000 for 3 years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs. 9,440. Calculate: the interest accured in the third year.

ANSWER

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

For the third year

P=Rs.11139.20

R=18%

T=1 year

Interest=

100

11139.20×18×1

=Rs.2005.06

Hence interest for third year =Rs.2005.06

mark as BRAINIEST