Question

A man invests Rs. 5000 at a certain rate of
interest, compounded annually. At the end
of one year, it amounts to Rs. 5600. The rate
of interest per annum is


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Answer 1

Answer:

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Step-by-step explanation:

Amount =P(1+100r)t

∴5600=5000(1+100r)1

5056=1+100r

⇒506=100r

⇒r=12

Amount after two years = 5000(1+10012)2

=5000(1+253)2

=25×255000×28×28=6272