Question

A man invests Rs 10000 for 3years at a certain rate of interest, compound annually. At the end of one year, it amount to Rs 11200. calculate. (1)the rate of interest per annum. (2) the interest accrued in the second year. (3)the amount at the end of the third time year.

Answer 1

Principle = Rs 10000, After 1 year amount = Rs 11200 so interest after 1 year = Rs 1200
Amount = P(1+R/100)T
11200 = 10000(1+R/100)1
R = 12%
Interest for second year = 11200(1+12/100)1 - 11200 = Rs 1344
Amount after 3 year = 10000(1+12/100)3 = Rs 14049.28

Answer 2

Answer:

Principle = Rs 10000, After 1 year amount = Rs 11200 so interest after 1 year = Rs 1200

Amount = P(1+R/100)T

11200 = 10000(1+R/100)1

R = 12%

Interest for second year = 11200(1+12/100)1 - 11200 = Rs 1344

Amount after 3 year = 10000(1+12/100)3 = Rs 14049.28