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

SO,simple like crystal.
Here how you solve in your boards.
Key:-
Given:-
Pricialpal=5000   time=3 amount 5600
We know
Amount=priciapal(1+r/100)n
5600=5000)i+r/100)3
56=(1+r /100)3
50

175616
______=1+r/100 
125000

175616
----------  -  1=r/100
125000

50616
--------   =  r/100
125000

Rate=4.06% And rest you solve with this you solve that

Answer 2

RATE OF INTEREST = 4.06 PERCENT.