Question

a man invests rs. 8000 for 2 yrs at acertain rate of interest compounded annually . at the end of one yera it amounts to rs. 8800. calculate: 1) the rate of interest 2) interest accrued in the second year. 3) the amount at the end of the second year

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Answer 1

Answer:

P=Rs.8000

Amount after one year =Rs.9440

Interest for 1 year=9440−8000=Rs.1440

let rate of interest=R

C.I for one year=S.I for 1 year=

100

PRT

⇒1440=

100

8000×R×1

⇒R=

8000

1440×100

=18%

For second year

P=9440

R=18 %

T=1 year

∴Amount=P(1+

100

R

)

T

⇒9440(1+

100

18

)

⇒9440×

100

118

=Rs.11139.20

Hence Amount at the end of second year =Rs.11139.20

For the third year

P=Rs.11139.20

R=18%

T=1 year

Interest=

100

11139.20×18×1

=Rs.2005.06

Hence interest for third year =Rs.2005.06

Step-by-step explanation:

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