A man invests Rs.7000 for three years, at a certain rate of interest compounded annually. At the end of first year it amounts Rs.7980. Calculate : (i) the rate of interest per annum
(ii) the interest accured in the second year (iii) the amount at the end of the third year
Answers
Answered by
29
rate per annum = 7%
Step-by-step explanation:
given,
A= Rs.7,980
P= Rs.7,000
A= P( 1+r/100)^3
7,980= 7,000(1+r/100)^3
7980/7000=(1+r/100)^3
1.24=(1+r/100)^3
(1.24)^3=(1+r/100)
1.07= (100 +r)/100
1.07 ×100=100+r
107=100+r
107-100=r
r=7%
2-₹239236
3-₹1042394
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Answered by
2
Answer:
ans r=7%
Step-by-step explanation:
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