Question

A man invests Rs 5000 for three years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs 5600. Calculate(i) the rate of interest per annum,(ii) the interest accrued in the second year,(iii) the amount at the end of the third year

Answer 1

Step-by-step explanation:

1st:- 12%

2nd:- 600

3rd:- 6800