Question

A man invests Rs 12000 for two years at a certain rate of interest, compounded annually.At the end of one year,it amounts to Rs 13200. (a) The interest for first year is?

Answer 1

Answer:

r=55%

Step-by-step explanation:

how r =55% means,

A=P(1 +r/100)^n

as per the given data,

13200=12000(1+r/100)^2

13200×100×100/12000×200=r

after the canclelation

55%=r

interest for the first year,

I=P×R×T/100

I=12000×55×1/100

I=6600